Mark Cuban Calls NBA Power Balance Bracelets a Scam
Once again Dallas Mavericks owner Mark Cuban finds himself on the controversial end of an verbal exchange involving a decision made by the NBA. This time around however the controversy at hand has nothing to do with officiating, an unfavorable ruling or commissioner David Stern himself, but revolves around a business venture which the Association has embarked on with another company.
Currently the NBA has a marketing deal with Power Balance bracelets and that has gotten the feisty Mavericks owner riled up calling the product “a scam” and even went as far as to make a video and post it to YouTube.
In the video Cuban is shown throwing a display case full of the Power Balance bracelets in the trash of the Mavericks locker room while saying, “See this stuff? It was a scam when they were on ‘Shark Tank.’ It’s still a scam. I don’t care if the NBA was dumb enough to sign an agreement; this is going where it belongs. But have no fear, we do recycle. What are you thinking, NBA?”
The NBA and Power Balance LLC agreed to a deal where the company would make the rubber bracelets with a hologram (which is said to promote Eastern philosophies of health and wellness) featuring NBA team logos in the hologram and sold for $32.99 on NBA.com.
On an episode of “Shark Tank”, which is a entrepreneurial reality show that Cuban is one of the stars of, the Mavs owner ripped a product which was similar to these saying, “No, I’m allergic to scams. Seriously, this is not new. It’s been disproven. What you saw is the placebo effect. There’s athletes that wear it. It’s a joke. It’s a scam. It’s not real.”