The Cleveland Cavaliers lost their founding owner earlier this week.
Nick Mileti, who helped found the franchise before getting inducted into the Cavaliers Wall of Honor in 2019, passed away at the age of 93.
He died in his sleep on Wednesday in Rocky River, Ohio, per NBA.com.
Upon seeing the news of Mileti’s passing, the Cavs released a statement on Twittter/X, giving their condolences.
“We are saddened to learn of the passing of Nick Mileti, the beloved founder whose passion and vision ignited the spirit of Cavaliers basketball in our great city. A true pioneer in the world of sports, Nick was not just a leader; he was a dreamer who transformed that dream into reality for countless fans in Cleveland,” the Cavs said in a statement.
Mileti first purchased the Cleveland Barons, a minor league hockey team, in 1968 before bringing the NBA to Cleveland in 1970. He sold shares of the Cavs at $5 each so he could raise $2.25 million and cover the expansion fee.
The Cavs have won one NBA title (2016) since they were founded. They beat the Golden State Warriors to win the NBA Finals in a thrilling Game 7.
Our thoughts are with Mileti’s family and friends.
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