Dallas Mavericks and the Dallas Stars have resolved their legal dispute and plan to stay at American Airlines Center through the 2030-31 season.
The teams made the announcement in a joint statement on Monday afternoon.
"The Dallas Mavericks and Dallas Stars have reached an agreement that resolves the outstanding matters between the two organizations," the teams said in the joint statement.
The legal battle started last year when the Mavericks alleged the Stars were in breach of a franchise agreement that required their corporate headquarters be located within the city of Dallas, according to the Dallas Morning News. The team also claimed that the Stars obstructed maintenance and improvements to American Airlines Center.
Dallas City Manager Kimberly Bizor Tolbert said in a statement that the city was "pleased to hear" that an agreement was reached.
"As we plan for the future of downtown and our sports and entertainment district, this agreement is an important step, and we look forward to continuing our partnership with both organizations as we work to strengthen their long-term future in our city," Tolbert said in her statement.
Both teams have development plans that would mean moving each franchise out of downtown Dallas.
The Mavericks were part of speculation from residents and city council members that the team was interested in the City Hall property for its future arena. However the team has said there are no plans to take over the site.
The Mavericks entered into option agreements for the potential purchase of around 104 acres at the Valley View Mall site. The decision is based on the team's commitment to keeping the team in Dallas, according to a news release.
The Dallas Stars also announced their move to Plano earlier this summer.
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