Online mortgage tycoon buys Cavs - 2005-01-03
The Cleveland Cavaliers were acquired Monday for $375 million by the founder of the nation's largest online mortgage company, who acquires a team that has surged from the NBA's depths since the arrival of LeBron James.
Dan Gilbert of Detroit, founder of Quicken Loans, will take ownership of the Cavaliers and operational control of the 20,000-seat Gund Arena once the league's Board of Governors approves the deal.
Read the full story at The Indianapolis Star