Audio By Carbonatix
Just as Dallas Mavericks’ owner Mark Cuban is finishing his jig in the wake of beating an insider trading charge from the Securities & Exchange Commission, today comes another legal pothole.
This one from the guy who sold him the Mavericks.
Hillwood Center Partners, which is controlled by Ross Perot Jr., filed a lawsuit against Cuban in state district court in Dallas last week claiming he diverted money from American Airlines Center to make up for financial shortfalls incurred by the Mavericks.
Cuban usually has his shit together when it comes to money.
When news happens, Dallas Observer is there —
Your support strengthens our coverage.
We’re aiming to raise $30,000 by December 31, so we can continue covering what matters most to you. If the Dallas Observer matters to you, please take action and contribute today, so when news happens, our reporters can be there.
We’ve always thought the Mavs were losing money, though he has never cracked open his books for the details. The lawsuit claims Cuban has covered significant cash shortfalls for the Mavericks by obtaining more than $29 million in unauthorized loans through a limited partnership.
Sounds like, at worst, nothing more than robbing Peter to pay Paul. But from Don Nelson’s contract to the SEC to this, Cuban sure spends a lot of time in court.
