Mark Cuban, the billionaire founder of Broadcast.com and owner of the Dallas Mavericks, has been sued by minority partner Ross Perot Jr., who owns 5% owner of the team. Perot claims that Cuban's reckless treatment of the team has left it insolvent. Cuban acquired the Mavericks from Perot for $265 million during the 1999-2000 season, but left Perot as a minority owner.
Perot wants damages, wants the team put into receivership, and would like to see a forensic accountant appointed to examine the teams books. Mark Cuban responded via the Dallas Morning News."The Mavs operations and debt are guaranteed by me. There is no risk of insolvency. Everyone always has been and will be paid on time... being in business with Ross Perot is one of the worst experiences of my business life. He could care less about Mavs fans. He could care less about winning.”
There is a history of bad blood between the two billionaires. It is well know around here that these two despise each other. Last summer, another Perot company, Hillwood Center Partners, sued Cuban, accusing him of wrongfully diverting millions of dollars from the American Airlines Center to help make up for cash shortfalls incurred by the team. Cuban accused Perot at the time of "trying to find nickels in the sofa cushion" in an attempt to recapture losses stemming from the Victory project, a retail and office development surrounding the AAC.
Not to be outdone by Perot, Cuban zinged him saying that doing business with Perot "is one of the worst experiences of my life" and that Perot "could care less about Mavs fans. He could care less about winning.""Me thinks" this lawsuit seems like the work of a guy who regrets selling his team and is trying to get it back by any means necessary. It's a typical "Perot" move. He learned it from his "daddy Ross".
By the way, Perot drives around Dallas with a huge and very conspicuous security detail. 99% of the people around here have no idea who Ross Perot Jr is. The other 1% know but don't care. His bodyguards bring attention to him, which he loves and would not get without them. Yet everyone in Dallas recognizes both Cuban and Jerry Jones and they travel freely around Dallas with far less security.