Suit Accuses Mavericks Owner Of Diverting Profits

By: Associated Press Email
By: Associated Press Email

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July 20, 2009

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.


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