Cavaliers Sale Approved

LeBron James will soon have a new boss.

Detroit mortgage mogul Dan Gilbert will be introduced as the Cleveland Cavaliers next owner today. On Monday, the NBA’s Board of Governors concluded its vote to approve the $375-million sale to Gilbert, 42, who assumes control from Gordon Gund, who bought the team in 1983 for $20 million.

Gund is staying on as a minority owner in a group that includes pop star Usher.

Gilbert, founder of Quicken Loans, finalized his deal to buy the Cavaliers and the controlling rights to their downtown arena from Gund on Jan. 3.

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