Cavaliers founder Nick Mileti passed away on Wednesday at the age of 93, the team announced in a press release.
“The Cleveland Cavaliers 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.
“Inducted into the inaugural class of the Cavaliers Wall of Honor in 2019, Nick’s legacy is forever etched in the history of our franchise. His journey began as a Cleveland-area lawyer, and in 1968, he took a bold step by purchasing the Cleveland Arena. Just two years later, he led a dedicated group that brought the Cavaliers to life, introducing our team to the NBA as an expansion franchise in 1970.
“Nick had a grand vision for the future of basketball in Cleveland, culminating in the construction of the Richfield Coliseum, which opened its doors in 1974 as the largest arena in the NBA. For 20 unforgettable years, the Coliseum was home to the Cavaliers, a place where memories were made, and dreams were realized.”
According to ESPN, Mileti remained a part of the Cavs’ ownership group until 1980. He also owned Cleveland’s MLB franchise, the Guardians (then known as the Indians), in the the 1970s.
We at Hoops Rumors send our condolences to Mileti’s family and friends.