Cuban cited his own difficulties with SEC litigation in giving advice to Tesla's Elon MuskGETTY IMAGES
A 15-minute phone call from Mavericks Owner MARK CUBAN "helped break an impasse" between Tesla CEO ELON MUSK and federal securities regulators on "charges that he misled investors in an August tweet saying Tesla would go private at $420 a share." Sources said that after Musk "initially walked away from an agreement" to settle the civil SEC charges, one of his lawyers asked Cuban to prod Musk to "reconsider." Cuban told Musk in the call that he would "face a long court fight that would take him away from managing his companies." Sources said that based on his own experience, Cuban told Musk of the "difficulties he had endured during multiyear litigation with the SEC" (WALL STREET JOURNAL, 10/5).
MAKING THE LIST: Forbes released its list of the 400 wealthiest American, and Clippers Owner STEVE BALLMER was ranked the highest among the 45 prof sports owners included. In addition to Ballmer, there are 13 other NBA owners on the list. There are 18 NFL owners on the list, with Seahawks Owner PAUL ALLEN listed the highest at No. 21. There were nine NHL owners and eight MLB owners as well (FORBES.com, 10/3)....Variety's Dealmakers Elite N.Y. '18 honorees included the following: O’Melveny’s Sports Industry Group co-Chairs CHUCK BAKER, JARED BARTIE and IRWIN RAIJ; IMG Senior VP & Deputy General Counsel JOHN COOPER; Professional Fighters League co-Founder & Chair DONN DAVIS; Evolution Media Capital Partner & Head of Sports Media ALAN GOLD; and Bruin Sports Capital Founder & CEO GEORGE PYNE (VARIETY, 10/2 issue).
SHOW ME THE MONEY: MSG said that Chair & CEO JAMES DOLAN got a "hefty raise." Dolan will bring home roughly $9.3M in "total compensation over the next year -- including sales, bonus and other payout" -- up 20% from his previous contract. Dolan has a "one-time provision in his new contract" that would give him the opportunity to amass $40M over the next seven and a half years if MSG can "hit certain performance goals" (NYPOST.com, 10/4).
HALL PASS: Longtime Minneapolis Star Tribune columnist SID HARTMAN will be inducted into the Minnesota Sports HOF on Oct. 24 (STARTRIBUNE.com, 10/4)....Former NASCAR driver CARL EDWARDS is the "latest member" of the Texas Motorsports HOF. He will be inducted on Nov. 3 (DALLASNEWS.com, 10/4).
NAMES: L.A. City Councilman BOB BLUMENFIELD and NHL Kings President LUC ROBITAILLE "signed a memorandum of understanding alongside other officials at the Toyota Sports Center on Thursday affirming their commitment to build and operate a long-discussed ice rink in Reseda." The two were also joined by Kings COO KELLY CHEESEMAN (DAILYNEWS.com, 10/4)....BILL WALTON was on hand Thursday for the grand opening of a gym in his name at the Boys & Girls Clubs of East County, San Diego (SANDIEGOUNIONTRIBUNE.com, 10/4)....The first episode of CBS’ new home renovation series “SUPERSTAR RENOVATION” on Oct. 13 will feature Eagles S MALCOLM JENKINS. The second episode features Spurs F LAMARCUS ALDRIDGE (BROADCASTINGCABLE.com, 10/4)....NHL Commissioner GARY BETTMAN, Exec VP/Social Impact, Growth Initiatives & Legislative Affairs KIM DAVIS, Dir of Legislative Affairs, Public Policy & Partnership Development ROB WOOLEY and Hockey HOFer-elect WILLIE O’REE were among those at Forbes Tate Partners’ office to celebrate the Capitals’ season-opening game Wednesday (POLITICO.com, 10/4)....Brewers GM DAVID STEARNS' wife WHITNEY gave birth to a daughter, NORA ANN (MILWAUKEE JOURNAL SENTINEL, 10/5)....The NWHL will publicly share stories of its partners over the coming season, and the first to be profiled is MLB Rangers co-Owner & COO NEIL LEIBMAN (NWHL).
