Cleveland Cavaliers owner Dan Gilbert is aiming to sell a portion in his NBA team, and has retained Allen & Company to explore selling up to 15% of the franchise, Sportico’s Scott Soshnick and Kurt Badenhausen report, citing a half-dozen sources. The deal could be in one parcel or to several individuals, and Gilbert would still retain his majority interest, the authors say. The Fly notes that the move comes about a week after ESPN reported that the Buss family was selling a majority stake in the NBA’s Los Angeles Lakers to Mark Walter. Publicly traded owners of sports franchises include the Liberty Braves Group (BATRA), MSG Sports (MSGS) and Manchester United (MANU).
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