Mavericks’ Cuban Under Scrutiny

Dallas Mavericks owner Mark Cuban is being sued by the team’s former owner for allegedly shifting millions of dollars from the NBA franchise’s home arena to cover the team’s budget shortfall.

The lawsuit, filed by Hillwood Center Partners run by former Mavericks owner Ross Perot Jr., claims Cuban committed breach of contract, breach of fiduciary duty and unjust enrichment by obtaining $29 million in unauthorized loans through a partnership deal set up to distribute profits from American Airlines Center.

The Mavericks and three other companies controlled by Cuban are also named in the suit.

Cuban’s response to the lawsuit – reportedly via e-mail – was to say that, to his knowledge, his lawyers had made Perot aware of the loans and the proceeds were used “to put the best possible Mavericks team on the court,” which has led to sellout crowds at the arena.