Mavs owner responds to charges by Ross Perot Jr.



WFAA Sports

Posted on May 11, 2010 at 7:38 PM

DALLAS — Dallas Mavericks owner Mark Cuban, responding to the lawsuit filed Monday by minority owner Ross Perot Jr., says the worst decision he's made as owner of the Mavericks is keeping Perot as a partner.

The Mavericks have their faults, but one thing fans can agree on is that Cuban wants to win, and spends lots of money to do it.

Ross Perot Jr. apparently doesn't think so, however.

The team's minority owner is suing Cuban, claiming that the Mavericks are $200 million in debt, which is causing Perot to get a lousy return on his investment.

"This is pretty much a typical lawsuit as to how it relates to a minority shareholder who's displeased with the way his investment is being managed," said Michael Hurst, a Dallas lawyer who is not involved with the lawsuit.

Hurst said he has an appreciation for the consistent winner the Mavericks have become.

"On the other hand, it is a business, and certainly Mr. Perot as a minority shareholder has the right to make sure this investment is being managed in a way that he thinks is prudent and proper," Hurst said.

Perot owned the Mavericks before selling the majority to Cuban, and his current holding is five percent.

The lawsuit alleges that the Mavericks' long-term viability is in question because of their mounting debts.

Cuban responded to the lawsuit with an e-mail to News 8:

"I have personally guaranteed all the obligations of the Mavs, so they are more than solvent. Perot wants me to run the team like he did in the 90s. I won't do it. He wants me to squeeze every penny out of Mavs fans rather than lowering prices like [we] have the last five years I won't do it. Better yet, our other partners don't want me to, either. Perot is just being Ross Perot."

And that response is Cuban being Mark Cuban.