Ross Perot Jr. is suing billionaire Mark Cuban (pictured above) over the financial performance of NBA team, the Dallas Mavericks. The Mavericks are “insolvent and/or in imminent danger of insolvency,” according to a filing for the lawsuit. Perot sold a majority stake of the Dallas Mavericks to Mark Cuban in 2000, but he still holds a 5% ownership.
The Dallas Mavericks are now over $200 million in debt according to the lawsuit and Perot is seeking a court-appointed person to run the team. “Mavs fans have nothing to worry about,” stated Mark Cuban in an e-mail. “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.”