Report: Cavs’ Gund to sell stake in team

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.

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