Billionaire Dan Gilbert, the founder of Rock Venture and Quicken Loans, as well as the Cleveland Cavaliers, has made his mark in Detroit, with a significant investment in the downtown renaissance.
Gilbert’s name dropped into the NBA rumor mill Wednesday as ESPN’s Steven A. Smith dropped a bombshell on “First Take” that Gilbert could be considering selling the Cavaliers. With LeBron James’ pending free agency after this season, it’s an interesting proposition, with Gilbert looking to cash out while the team has maximum value.
Not so fast.
A source close to the situation told The Detroit News there is “zero truth” to Smith’s claims that Gilbert is contemplating selling the Cavaliers.