Dallas Mavericks owner Mark Cuban is accused of illegally diverting money from American Airlines Center to prop up the financially struggling NBA team; he says nothing improper happened.
Dallas Mavericks owner Mark Cuban is accused of illegally diverting money from American Airlines Center to prop up the financially struggling NBA team; he says nothing improper happened.
Cuban is accused of borrowing $29 million against Radical Arena, the firm mostly owned by Cuban that owns and operates American Airlines Center for the city. A minority owner of Radical Arena, Ross Perot Jr., says the loans violated the terms of the ownership and saddled the arena management firm with unneeded debt.
Cuban doesn't deny the existence of the loans: he says they were allowed under the terms of the management deal and are an attempt by Perot to get something back for his failed investments in arena-area real-estate development.
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