Wine Spectator: Basketball’s Tim Duncan Suing Terroir Founder Charles Banks

Basketball star Tim Duncan wants out of the wine business. The 15-time NBA All-Star is suing Charles Banks, the founder and managing partner of Terroir Capital, which owns or manages 16 different wineries in California, Oregon, New Zealand, South Africa and Burgundy, over Duncan’s investments in Terroir’s winery and hotel projects, as well as a sports merchandising company. The San Antonio Spur claims Banks lost $20 million of his money.

Banks denies the allegations and says that Duncan is using the lawsuit as leverage to cash out early on limited partnership investments with fixed time periods. “It’s frustrating because this is a business discussion, not a legal discussion,” Banks told Wine Spectator. “They’re suing to push me to buy him out.” Click here for the full story.

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Tagged : wine, Wine Spectator

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