The Cleveland Cavaliers are a professional basketball team that plays in the Eastern Conference of the NBA. The franchise was established in 1970 and began playing its home games at the Cleveland Arena. After that in 1974, they moved to the Richfield Coliseum stadium located in Richfield, Ohio where they played at the Coliseum for 20 seasons and won their first division title in the year 1976. Subsequently, in 1994, The Cavs started playing their home games at Rocket Arena in Cleveland. They share the stadium with Cleveland's other historic sports team Cleveland Monsters in the American Hockey League.
The Cavs have made it to the NBA playoffs 24 times and won their only championship in 2016, led by LeBron James, Kyrie Irving, and Kevin Love. The Cavs are one of the most popular teams in the NBA, and their games are often sold out. The Cavs franchise has been evaluated at $3.95 Billion as of October 2024, by Forbes
Does Usher own the Cleveland Cavaliers?
Usher owns a minority stake in the Cleveland Cavaliers as per Forbes. When the team was bought by Dan Gilbert in 2005 for $375 million, Usher bought a minority stake in the franchise (nearly 1%) by contributing $9 million as per Forbes.
Who are the other owners of the Cleveland Cavaliers?
Dan Gilbert (Majority Owner)
The majority owner of the Cleveland Cavaliers franchise is Dan Gilbert. The Businessman purchased the team in 2005 for $375 million as per Forbes. Gilbert owns other sports franchises including the Cleveland Monsters
Gary Gilbert (Minority Owner)
Gary Gilbert, American film producer, and businessman brother of Dani Gilbert has a minority stake in the Cavs.
Myles Garrett (Minority Owner)
Cleveland Browns All-Pro defensive end Myles Garrett in October 2023, bought a minority stake in the Cleveland Cavaliers.
Also read: Cleveland Cavaliers Playoff History
FAQs on Cleveland Cavaliers
A. The Cleveland Cavaliers are a professional basketball team based in Cleveland, Ohio. They compete as a member of the Central Division of the Eastern Conference in the National Basketball Association (NBA).
A. The Cavaliers play their home games at Rocket Mortgage FieldHouse, which is located in downtown Cleveland, Ohio.
A. Usher, who is a Grammy Award-winning singer and actor, became a minority owner of the Cleveland Cavaliers in 2005 after purchasing a small stake in the team for $9 million.
A. The majority owner of the Cleveland Cavaliers is Dan Gilbert. He purchased the team in 2005 for $375 million. Gary Gilbert, who is the brother of Dan Gilbert and vice chairman of Rocket Mortgage is the minority owner of the team.
