Suit accuses Mavs owner of diverting profits

[Dasher]

Suit accuses Mavs owner of diverting profits
Associated Press
Updated: July 20, 2009, 3:55 PM EDT



DALLAS (AP) - A lawsuit accuses Dallas Mavericks owner Mark Cuban of wrongfully diverting millions of dollars from the NBA franchise's home arena to make up for shortfalls incurred by the team.

Hillwood Center Partners filed the lawsuit last week in state district court in Dallas. The company is controlled by the team's former owner, Ross Perot Jr. The Associated Press obtained a copy of the lawsuit Monday.

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.

Cuban declined comment in an e-mail to the AP.

A spokesman for Perot did not immediately respond to a request for comment.

Suit accuses Mavs owner of diverting profits - FOX Sports on MSN

[Dave Q.]

This guy is just dirty.

[grizzly_bexar]

He's got more suits than the Mens' Wearhouse.

[JTD]

LOSER! and his team sucks also!

[choppsboy]

I don't Like Cuban,
but don't assume he is dirty. He is also a Huge target!

[Uwe Blab]

Well, he would normally have blogged something right? It's probably true.

[Guapo]

Originally Posted by Dave Q.

This guy is just dirty.

Or as they would say in today's business world- smart! Did the Spurs do anything different by getting tax payers to fund what in other cities would be considered arena business expenses?

[theinswes]

Originally Posted by Uwe Blab

Well, he would normally have blogged something right? It's probably true.

it's a legal matter, and even as much as he likes to blog, there are points where you don't comment on a lawsuit while a case is going on. it'd be silly to assume he's dirty for this alone. i think he's a terrible owner and a big baby, but that's basketabll, and i'm not gonna assume he's a crook until he's proven guilty.

He didn't really blog about the SEC matter either. To be fair.

[buttsR4rebounding]

Originally Posted by Dave Q.

This guy is just dirty.

He needs to take a bath in the San Antonio River!!

[Guapo]

Originally Posted by buttsR4rebounding

He needs to take a bath in the San Antonio River!!

[dark21horse]

Originally Posted by Guapo

Or as they would say in today's business world- smart! Did the Spurs do anything different by getting tax payers to fund what in other cities would be considered arena business expenses?

Yes the Spurs did something different. What they did was legal and they are not getting sued for it.