Mavericks Owner Donald Carter indicated he has reached an
agreement with a group backed by Ross Perot Jr. for the sale of
his NBA franchise. Brad Townsend of the DALLAS MORNING NEWS
reports Perot and Carter reached a consensus late Monday night
after Perot upped his offer from $115M to $125M. Because most of
Carter's attention had been with the other bidder, Stars Owner
Tom Hicks, the details have yet to be completed and both parties
don't expect an announcement until tomorrow or Friday. Upon
reaching an agreement with Perot, Carter terminated a letter of
intent with Hicks and returned $10M in "earnest money." But
Hicks "sounded anything but a bitter loser," and sources say he
will not only purchase "a significant percentage" of the Mavs,
but that Perot is likely to buy up to 30% of the Stars. Hicks,
on speaking with Perot: "I'm confident we're going to find a way
to align our economic interests of the Stars and the Mavericks
and the new arena." Sources indicated Carter will likely retain
between 20% and 30% of the team (DALLAS MORNING NEWS, 4/17). In
Dallas, Richard Alm, writes Perot's main interest "lies in the
potential for a new arena" (DALLAS MORNING NEWS, 4/17).
