Dan Gilbert Retains Bank To Sell 15 Percent Stake In Cavaliers
Posted: Thu Jun 26, 2025 8:21 pm
Dan Gilbert has begun exploring a sale of approximately 15 percent of the Cleveland Cavaliers. Gilbert will retain his majority stake, but has retained Allen & Company to explore selling a minority stake. Gilbert purchased the Cavaliers in 2005 for $375 million.
The Cavaliers were most recently valued in December at $3.95 billion. NBA values have doubled over the past four years—and are up 1,100% over the past 15 years
Gilbert has a net worth of $32.1 billion, according to Bloomberg.
The Cavaliers finished the 2024-25 regular season with the best record in the Eastern Conference and were eliminated in the second round by the Indiana Pacers. The Cavaliers won the NBA championship in 2016.