Latest posts by Sam Amico (see all)
- Nance Jr., Cavs agree to four-year contract extension - October 15, 2018
- Pelicans acquire Johnson from Clippers for Ajinca - October 15, 2018
- Bucks to acquire Meeks, pick from Wizards - October 15, 2018
RICHFIELD, Ohio — Former Cavaliers majority owner Gordon Gund will sell his remaining share of the team, according to a report from Crain’s Detroit Business.
Gund, 76, along with his later brother George, purchased the team in 1983 and owned it until 2005, when it was sold to a group led by current majority owner Dan Gilbert.
Gordon Gund is believed to own a 15-percent stake in the franchise. That stake is reportedly worth around $160 million.
The Cavaliers trail the Warriors 1-0 in the Finals. Game 2 is Sunday in Oakland, Calif.