Cleveland Cavaliers' Founder, Nick Mileti, Dead at 93

The founder of the Cleveland Cavaliers, Nick Mileti, has passed away at the age of 93.

Cleveland Cavaliers founder Nick Mileti. / Photo Credit: Cleveland Cavaliers

The Cleveland Cavaliers announced some sad news on Thursday.

In a post on X, formerly known as Twitter, the Cavaliers broke the news about the passing of Nick Mileti, who died on Wednesday. For those who don't know who Mileti was, he was the original founder of the franchise.

Along with sharing the news, Cleveland sent out the following message about Mileti's passing.

"We 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."

We 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… pic.twitter.com/mw6QifgGEL

— Cleveland Cavaliers (@cavs) August 22, 2024

Mileti lived to the age of 93.

In addition to founding the Cavaliers, Mileti also owned two hockey teams in the city. He also owned the Cleveland Arena and Richfield Coliseum.

Back in 1970, Mileti paid $3.7 million to bring the city an NBA expansion team. He remained as part of the ownership group until 1980.

Mileti was also a huge part of purchasing the Cleveland Major League Baseball team in 1972. At that point in time, they were known as the Indians. His ownership stake passed to Ted Bonda, his business partner, in 1975.

Our thoughts and prayers go out to Mileti's friends and family. He accomplished a lot of success throughout his life and will be missed by the city of Cleveland and the sports scene in the city.