Thirty-six years before the Cleveland Cavaliers ended the city's championship drought, there was Ted Stepien. Long before the Cavs became the first team to overcome a 3-1 deficit in the NBA Finals, there was an ownership tenure that was so incompetent the league had to intervene.
Yes, the Cavs certainly have come a long way. And in some respects, they still have a ways to go, as they must prove they can be title contenders when LeBron James isn't carrying much of the burden.
During a four-year period to start the 1970s, Nick Mileti strung together deals that would lead to controlling interests in the Cavs, Indians and Richfield Coliseum. The 1975-76 Cavs, in their sixth year of operation, advanced to the Eastern Conference finals, thanks to a scintillating first-round win over the Washington Bullets that was dubbed the "Miracle of Richfield."
The Cavs, though, were said to be losing millions, and things got so out of hand that the organization, in a span of a few months in 1980, changed hands three times — from Mileti to Louis Mitchell to Joseph Zingale (Mileti's cousin) to Stepien.
Stepien was a successful Cleveland businessman who became known for a hands-on approach that included terrible trades (hence the "Stepien Rule," which prevents NBA teams from making deals that leave them without first-round draft picks in consecutive years), regime changes (five men served as head coach in Stepien's three seasons as owner), and odd promotions and game-day experiences.
Mercifully, the Cavs were sold again in 1983, this time to brothers Gordon and George Gund.
The Gunds brought some stability — and eventually, a plethora of playoff appearances. In an 11-year stretch under coaches Lenny Wilkens and Mike Fratello, the Cavs made nine postseason trips, including a run to the 1992 Eastern Conference finals. Michael Jordan's Chicago Bulls, however, proved to be a hurdle the Cavs couln't overcome, as Chicago eliminated Cleveland five times during a seven-year span. The final ouster occurred in 1994, with Jordan in retirement.
Quicken Loans founder Dan Gilbert purchased a controlling interest in the Cavs for $375 million in 2005. (Gordon Gund still maintains a 15% stake in the team.) At the time of Gilbert's purchase, the Cavs were in the second season of the first LeBron era. That one ended badly, via "The Decision" and "The Letter," but James' triumphant return in 2014, while not without drama, produced four straight Finals appearances and the franchise's first championship.
Gilbert has brought financial clout, plus a "whatever it takes" mentality, to Cleveland's NBA franchise. The entrepreneur with extensive Detroit and Cleveland real estate holdings brought his mortgage business public as Rocket Companies Inc. in August. His net worth has since soared from $6.5 billion to $42.5 billion in less than a year, according to Forbes.
Gilbert hasn't been as visible since suffering a stroke in 2019, but his imprint continues to be all over his family of companies.
The Cavs recently completed a $185 million renovation ($70 million of which was publicly financed) of the since-renamed Rocket Mortgage FieldHouse. They've competed in six conference finals and five NBA Finals in the last 14 seasons.
What they haven't done of late is have success without James.
The Cavs are a combined 38-109 since James left for the Los Angeles Lakers in 2018. In their 50-year history, they are 218 games above .500 with James on the roster (560-342 in the regular season) and 519 games below .500 when he isn't (1,307-1,826).
Cleveland's latest post-LeBron rebuild is being led by a pair of lottery picks in Collin Sexton and Darius Garland, a promising second-year player in Kevin Porter Jr., forward Larry Nance Jr. and a notable championship holdover in five-time All-Star Kevin Love.
They have the fifth pick in the 2020 NBA draft, plus a favorable salary-cap situation.
Things could be looking up, though serious playoff aspirations likely will require the addition of a star or two in the coming seasons.
"The fact is, I took over a club from Nick Mileti that was going down. He couldn't pay his bills."
— Ted Stepien, to the New York Times, on the situation he entered upon purchasing the Cavs in 1980
"You realize in high school, 'Most likely I'm not going to be a professional athlete. So one day, I'll buy a team.' "
— Cavs owner Dan Gilbert, to Cleveland Scene in 2006
"LeBron is different because he's such a special athlete. He gives Cleveland a global brand presence that is more valuable than the orchestra."
— Economist Ned Hill, to Crain's, on James' return to the Cavs in 2014
"I came back for a reason. I came back to bring a championship to our city."
— James, after the Cavs clinched the 2016 title
"back" - Google News
November 01, 2020 at 04:00PM
https://ift.tt/3kNtoYz
Crain's Cleveland Look Back: Cavs make leap from laughingstock to champs - Crain's Cleveland Business
"back" - Google News
https://ift.tt/2QNOfxc
Shoes Man Tutorial
Pos News Update
Meme Update
Korean Entertainment News
Japan News Update
Bagikan Berita Ini
0 Response to "Crain's Cleveland Look Back: Cavs make leap from laughingstock to champs - Crain's Cleveland Business"
Post a Comment