former Valley View Mall site

The Dallas Mavericks have taken a significant step in their search for a future arena and entertainment district, announcing Monday that they have entered into option agreements for the potential purchase of approximately 104 acres at the former Valley View Mall site.

The organization said the decision came after analyzing several locations while working with the City of Dallas to identify potential sites for a new arena and entertainment district.

"After seriously studying and considering several options, while working closely with the City of Dallas to identify possible locations for a new Dallas Mavericks arena and entertainment district, the Mavericks organization has entered into option agreements for the potential purchase of approximately 104 acres at the former Valley View Mall site," the team said in a statement.

The Mavericks said they appreciated the support they have received from city leaders and the broader community during the process.

"We look forward to continuing the collaboration toward that goal."

According to the team, the Valley View property met most of the criteria established at the beginning of its evaluation process. The organization said it sees the potential for a mixed-use destination anchored by a new arena.

"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 Mavericks also say community engagement would be important if the project moves forward.

"Done thoughtfully and with community engagement, a project of this scale will serve as a meaningful economic catalyst for Dallas and its residents," the team said.

The organization reiterated its commitment to remaining in Dallas.

In a joint statement released Monday, Dallas Mayor Eric Johnson and Dallas City Manager Kimberly Bizor Tolbert praised the team's decision to continue pursuing a project within Dallas.

"The Dallas Mavericks' ownership has informed the city that it has signed an option agreement for 104 acres at the former Valley View Mall site for a potential new arena," the statement said.

"We applaud the Dallas Mavericks organization for its continued commitment to our city," they said.

The mayor and city manager also said the city intends to remain involved as the process continues.