WASHINGTON D.C. (CelebrityAccess MediaWire) — Suit and countersuit describe the ongoing struggle between a group of investors who had formed real estate concern Global Development Partners to purchase the D.C. United soccer team. The deal fell apart, leaving Patrick McAteer, a minority investor from Maryland bringing suit against Will Lauterbach, Tim Kissler and Kuwati Baker Al Sadi for breach of contract.
MaCateer alleges that Kissler, Al-Sadi and Lauterbach misused $2 million dollars intended to buy a 10 percent share of the team and develop a sports complex while his erstwhile partners have alleged that he reneged on the deal and impeded their attempts to purchase other real estate.
Things didn't seem so bleak. Last summer, in a much lauded deal, AGE had announced that GDP had agreed to purchase the team for a cool 25 million. The deal has since entirely come apart at the seams, with Cater alleging in his lawsuit that Major League Soccer would not agree to "ownership of a franchise by an entity involving" Lauterbach, Kissler and Al-Sadi.
Currently, no date has been set for the trial. – CelebrityAccess Staff Writers
