Report: Gilbert could sell Cavs in next few years
Owner Dan Gilbert has pledged he will never move the Cleveland Cavaliers out of the city. Yet as a businessman, that doesn't mean he wouldn't listen to offers for the franchise.
Sources outside the Cavs organization told Cleveland.com's Joe Vardon they suspect Gilbert will consider selling the team within the next few years.
On one hand, there's simple logic to gauging the market for the team. Gilbert became majority owner of the Cavs in 2005 for $375 million. Forbes estimated the value of the team at $1.2 billion earlier this year, and that figure is probably not far off - the Los Angeles Clippers set the NBA's current benchmark by selling for $2 billion in 2014.
Furthermore, the Cavs reportedly lost a league-high $40 million during their 2015-16 championship season, although that was due in part to a $54 million luxury tax bill.
The bigger elephant in the room is LeBron James' future with his hometown team. Gilbert is said to be "fixated" on what decision LeBron makes next summer. The Cavaliers' success is directly tied to James, and multiple reports have indicated that the main objective for the Cavs in honoring Kyrie Irving's trade request was to recoup young assets in the event of a rebuild.