Cavs' Gilbert acquires minority share of former owner Gund

[ASFN Admin]

Cavaliers owner Dan Gilbert has acquired former owner Gordon Gund's remaining 15% minority share in the franchise. Gilbert, who built much of his fortune through mortgage lending company Quicken Loans, acquired the Cavaliers from Gund in 2005 for a reported $375 million. On Wednesday, the team said in a statement that Gilbert now has Gund's final share.

Continue reading...