Ross Perot Jr. Suing Mark Cuban, Claiming Dallas Mavericks Are Insolvent

Posted May 11, 2010

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.”

[Dallas News]