Who Owns The Cleveland Cavaliers?
The current owner of the Cleveland Cavaliers franchise is Dan Gilbert, who bought the team in 2005 for $375 million. Since then, the team has won one NBA championship in 2016. Gilbert is also the chairman and founder of Quicken Loans, the largest online mortgage lender in the United States.
Gilbert has been active in philanthropy in the Cleveland area, donating millions of dollars to various causes and organizations. In 2010, he founded the Cavs Foundation, which provides support for education, health and wellness, and community initiatives. Gilbert is also a member of the Giving Pledge, a group of wealthy individuals who have committed to donating at least half of their wealth to charity.
According to Forbes, as of the 2022-2023 season, the Cleveland Cavaliers are worth 2.05 Billion dollars. This makes them the 24th most valuable National Basketball Association (NBA) franchise.
Where Do The Cleveland Cavaliers Play Their Home Games?
Since its opening in October 1994, Rocket Mortgage Fieldhouse has been the home of the Cleveland Cavaliers. The arena is located in downtown Cleveland and is also used for other events, such as concerts and conventions. It has a capacity of 20,562 for basketball games. The Cavaliers have made it to the NBA Finals five times since moving to the arena, winning the championship in 2016.
It has also hosted concerts by some of the biggest names in music, such as Bruce Springsteen, Beyonce, and Taylor Swift. With its prime location and modern facilities, Rocket Mortgage Fieldhouse has become one of Cleveland’s most popular entertainment venues.
About The Cleveland Cavaliers Franchise
The Cleveland Cavaliers are an American professional basketball team based in Cleveland, Ohio. The Cavaliers compete in the National Basketball Association (NBA) as a member of the league’s Eastern Conference Central Division. The team began play as an expansion team in 1970, along with the Portland Trail Blazers and Buffalo Braves. Home games were first held at Cleveland Arena from 1970 to 1974, followed by the Richfield Coliseum from 1974 to 1994.
The Cavaliers have won one NBA championship in 2016, qualified for the playoffs 22 times, and made the finals on five occasions. The franchise has also fielded many successful players, including LeBron James, Kyrie Irving, and Kevin Love. James is the team’s all-time leader in points, assists, and steals.
The Cleveland Cavaliers have had many intense rivalries over the years, but none have been more heated than their rivalry with the Boston Celtics. The two teams have met in the playoffs numerous times, with the Cavs beating them in 2015, 2017, and 2018 playoffs.