Latest posts by Sam Amico (see all)
- Celtics sign UCF big man Fall to Exhibit 10 contract - June 21, 2019
- Cavs agree to contracts with undrafted rookies Wade, Bolden - June 21, 2019
- Suns guard Johnson exercises option on contract - June 21, 2019
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.