On Wednesday, the founding ownerof the Dallas Mavericks, Don Carter, passed away at his come in Dallas.

Carter, an American investor and businessman, was a minority owner of the Mavs at the time of his death.

The Dallas Mavericks released the following statement on the passing of Carter:

The Dallas Mavericks issue the following statement on the passing of its original owner and co-founder Don Carter. Carter was the majority owner from the team’s inception in 1980 through 1996. He currently maintains a minority stake in the team.

“The entire Mavs family is heartbroken by the loss of Mr. Carter,” said current Mavericks Owner Mark Cuban. “Along with his wife Mrs. Carter, they have been our guiding lights for the organization since its founding in 1980.

“To say he will be missed does not do justice to just how important Mr. C has been to the Dallas Mavericks and the City of Dallas. Our condolences go out to Mrs. Carter and the entire Carter family.”

The Mavericks will honor Carter with a moment of silence during the February 26 game vs. the Indiana Pacers and special tribute at the second time-out of the first quarter.