The Dallas Mavericks announced Wednesday that Rick Welts, 73, will retire effective Dec. 31. Ethan Casson, 52, the team's president, will then succeed him as CEO and alternate governor. The team had kept the transition date private for several weeks and informed employees before the news release.
Welts returned from retirement in December 2024 to become the team's CEO. He said that when he accepted, he agreed to serve for two years. Casson was hired in August 2025, and the two have co-led the business side of the organization for about 15 months.
The team is planning a new arena as the centerpiece of an entertainment district on the 110-acre former Valley View Mall site. The Mavericks aim to finish the arena by summer 2031, when their American Airlines Center lease expires.
In the team's release, owner Patrick Dumont said Welts's leadership, judgment and experience had been invaluable. Dumont said Welts and Casson have built a partnership that gives the organization a seamless path forward.