The Dallas Mavericks confirmed Monday they have reached a preliminary agreement to construct a new arena and entertainment district at the former Valley View Mall site in North Dallas, approximately 12 miles north of their current home at American Airlines Center.

The club's lease at American Airlines Center runs through July 2031, meaning the Mavericks will remain in Dallas' Victory Park neighborhood for five more seasons. The team is targeting the 2031-32 season as its first in the new facility.

The proposed development will occupy a 104-acre tract at Interstate 635 and Preston Road, well exceeding the 50-acre minimum CEO Rick Welts identified in March as necessary for the project. Welts, who oversaw construction of the Golden State Warriors' Chase Center, was hired by Mavericks governor Patrick Dumont in January 2025 specifically to lead the arena search.

"The Valley View site meets most of the criteria established at the outset of our evaluation process," the Mavericks said in a statement. "It is our goal to stay in the city of Dallas, and we believe this site provides the strongest opportunity to achieve that goal."

The team envisions a mixed-use destination featuring hotels, retail, restaurants, a practice facility, public green spaces, and family-friendly attractions surrounding the arena.

The decision to move north rather than downtown removes the possibility of demolishing Dallas City Hall, a 48-year-old I.M. Pei-designed structure that had become a point of contention in the site selection process.

The choice also accelerates a broader shift away from the urban core for Dallas professional sports. The Cowboys and Texas Rangers already play in Arlington, while the Dallas Stars are reportedly exploring a move to Plano.

American Airlines Center has been the Mavericks' home since 2001, including during their only championship season in 2011.

Cooper Flagg will be 25 when the Mavericks open their new arena.