November 18, 2008

The Martha Stewart of sports

by Dan Bilicki In: Basketball

I don’t know much about the stock market, trading or even an extensive amount of investing my money, but I will tell you this: Mark Cuban is in trouble. It doesn’t take a rocket surgeon to know that insider trading is illegal because, let’s face it, we all know what happened to Martha Stewart not too long ago. Granted, as far as I’ve learned about Cuban’s situation so far is that he’s not in as much trouble as good ol’ Martha got herself into but it’ll be hard for Cuban to walk out of this unscathed.

Firstly, all of those rumours about Cuban being interested in buying the Chicago Cubs will never come to fruition now. With a red flag in his past like this, it’s hard to believe that MLB owners would ever let Cuban into their old boys club. Word was that they already weren’t too hot on Cuban joining their ranks so now he can kiss his dream goodbye.

Secondly, Cuban is — of course — challenging this suit being brought against him. From everything I’ve gained about this case it comes down to a he-said, she-said type deal and you don’t have to watch Law And Order to know how iffy those can be. I don’t see this ending up with Cuban on the losing end but this might be drawn out, much to his ire.

Finally, when you look at how sketchy some NBA owners are, there’s no way that Cuban will be forced into selling his team. Jerry Buss, owner of the Lakers has been charged with drinking and driving; Clay Bennett stole an entire franchise from its loved ones; even Michael Jordan, part owner of Charlotte has a checkered past involving gambling.

And of course, all of this post is pretty much just hearsay on my behalf. Like I said, I’m no financial expert, I’m just going on what I’ve learned thus far.

1 Comment

  1. In this Nov. 9, 2008 file photo, Dallas Mavericks owner Mark Cuban yells at referees during the second half of their NBA basketball game against the Los Angeles Clippers, in Los Angeles. Federal regulators have charged Dallas

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