The move effectively shuts down the Prime Prep campuses in Fort Worth and Dallas. Prime Prep’s co-founder was NFL Hall of Famer Deion Sanders. The state says the charter holder has failed to satisfy accepted standards of fiscal management and failed to comply with the Texas education code and its rules. Prime Prep has until July 31 to appeal the decision to revoke the charter and can remain open during its appeal.Prime Prep was thrust into the news again this week when incoming SMU point guard Emmanuel Mudiay announced that he would head overesas to play professionally instead of attending the Dallas school. Mudiay attended Prime Prep, but both the 6-foot-5 guard and SMU head coach Larry Brown said the decision was based on financial need and not on Mudiay’s academic record or the academic situation at Prime Prep.