The Dallas Mavericks and Dallas Stars have hit the real estate market tollway this week and are heading north. The pair of franchises announced major steps toward potential new arenas in separate areas of the metroplex outside of downtown Dallas. Both the Stars and Mavs have leases that expire in 2031 for their current home, the American Airlines Center (AAC).
The Mavericks announced in a statement released Tuesday that the team had “entered into option agreements for the potential purchase of approximately 104 acres at the former Valley View Mall site.” The Mav’s will move approximately 16 minutes and 11 miles up the road to a new arena and entertainment district where Valley View Mall once stood.
The very next day, the Stars released their own statement confirming that “the organization has signed a non-binding Letter of Intent, which has been submitted to the City of Plano” to build a new entertainment district at The Shops at Willow Bend headlined by a new stadium for the Stars. The move was approved by The Plano City Council this week. The Stars’ new home will be farther north than the Mavs, approximately 20 minutes and 17 miles up the road from the American Airlines Center.
The Mavericks and Stars have called the AAC home since its opening in 2001. With both teams preparing to leave the property, it marks not just one but two major losses for downtown Dallas. The city is already losing AT&T, which is moving its headquarters to Plano by 2028, along with a plethora of other major businesses moving out or closing their downtown offices. And the bitter debate about saving Dallas City Hall or tearing down the iconic I. M. Pei building continues to grow…