Boxing promoter Don King is not entitled to a $1 million deposit that was part of a failed deal to develop his shuttered jai-alai fronton in Mangonia Park, the 4th District Court of Appeal ruled Wednesday.
EB Acquisitions, a now-defunct development company, put the $1 million deposit in escrow in 2004 as part of a $23 million offer to buy the 53-acre fronton property north of 45th Street and turn it into a 1,500-unit community. The deal quickly fell apart and both sides sued each other claiming they were entitled to the $1 million deposit. The site remains idle.
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