LOUISVILLE (CN) - A ticket broker claims an assistant basketball coach for the University of Louisville took him for $50,000 in Kentucky Derby and Kentucky Oaks tickets. DerbyDeals.com claims it paid Steve Masiello $70,000 and he got it only $10,000 worth of tickets, refunded $10,000 in cash and kept the rest of the money.
DerbyDeals owner Scott Davis says that when he met with Masiello about getting tickets for the horse races, Masiello told him he would talk to Louisville head coach (nonparty) Rick Pitino and other connections about getting the tickets.
Davis claims in Jefferson County Court that Masiello told him he could get the tickets, including multiple tables at Churchill Down's Millionaires Row. Davis says he paid Masiello $20,000 in cash and agreed to split 50 percent of the profits from the venture.
Davis says he later gave Masiello another $50,000, but received only around $10,000 worth of tickets.
He claims Masiello made numerous false assertions, including that "a friend of his that was a reporter with the Courier-Journal was going to go to Churchill and 'clean out the tickets" with some of the money provided.
Davis says he demanded money back, and Masiello repaid him only $10,000. He claims Masiello has refused to tell him where the rest of the money is, "or an explanation as to what happened to the tickets promised."
"Because Masiello was not able to perform as promised, Davis has been left 'holding the bag' and many of his customers were enraged," according to the complaint.
DerbyDeals.com wants its money back and punitive damages for breach of oral contract, conversion, fraud and misrepresentation.
The ticket broker is represented by Garry Adams with Clay & Adams of Louisville.
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