The Dallas Mavericks are leaving the American Airlines Center behind, abandoning the idea of moving to City Hall or another location downtown, and are heading north to build an arena complex on the site of the old Valley View mall.

In a statement released June 1, the Mavericks basketball organization said:

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.

We have appreciated the enthusiasm from the Dallas City Manager, elected officials and the broader community to keep the team in Dallas. We look forward to continuing the collaboration toward that goal.

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

We have the opportunity to create a vibrant mixed-use destination anchored by a state-of-the-art arena, along with restaurants, entertainment options, public green spaces and family-friendly experiences. Done thoughtfully and with community engagement, a project of this scale will serve as a meaningful economic catalyst for Dallas and its residents.

We believe in Dallas, and our priority has been clear from the beginning: keeping the Dallas Mavericks in Dallas.

A new arena reportedly wouldn't open until the 2031-32 season, after their lease at the AAC expires.