Less than a week ago, major media outlets were reporting that Mark Cuban, billionaire entrepreneur and owner of the NBA’s Dallas Mavericks, was looking to purchase Newcastle United from unpopular team owner Michael Ashley. The pundits espoused the idea that Cuban’s dedication and personality could be an ideal fit for the squad and its notoriously passionate supporters.
Well, what a difference a week makes. Instead of dropping 225 million pounds on an EPL squad, Cuban will likely be spending boatloads of his money on keeping himself out of jail. Two days ago, the U.S. Securities and Exchange Commission filed suit against Cuban for insider trading.
The SEC says Cuban sold $750,000 of stock he knew was about to be diluted. Cuban has vehemently denied the charge and will characteristically fight it tooth and nail, just like he does everything else that seeks to bring him down.
Unlike many U.S. sports fans, I like Cuban. He’s egotistical and consumed with a desire to succeed, which can make him look like a douchebag, but he is also extremely generous (he donated $1 million to families of U.S. military killed overseas) and he seems like an ordinary man who just happens to have extraordinary wealth.
Recently, I saw Cuban at a bar in Chicago after the Cubs were trounced in Game 3 of the NLDS by the Dodgers. Even though he looked genuinely upset that the Cubs had lost, he was willing to take a picture with anyone who asked and he seemed like a typical guy. The only way you would have known he was worth $2.8 billion was by the phalanx of security he had around him. One of his bodyguards looked exactly like a circa 1982 Don “The Dragon” Wilson. It’s fair to say no one messed with ”Cubes” while he was there.
Cuban may be lucky his legal woes will distract him from his desire to own Newcastle. The club is mired both in debt and poor play. They currently sit dangerously close to relegation, and a rash of injuries has further hampered their chances of a successful season. If Alan Shearer took over, the squad could become motivated to make a push for relevance, but if he does not, it looks like it will be another mediocre season.
Cuban may be better off in America fighting off prison than he would be if he were locked up in St. James Park fighting off relegation. Even if he’s found guilty, he’ll probably only get a couple of months in a low-security penitentiary. If he buys the Magpies, he could be getting a life sentence.
