CLEVELAND: Cavaliers owners Dan Gilbert lost at least $40 million last season according to one report and might have lost even more.
As LeBron James and the Cavs battle this week over James questioning the organization’s desire to win another ring, Forbes reported last year’s championship cost him $40 million. One league source with knowledge of the ledger said Friday the losses were actually closer to $50 million. Gilbert paid $54 million in luxury taxes last season.
James was asked Friday about his relationship with Gilbert.
“He’s the owner of the team, I’m one of the players on the team,” James said.