Cavs owner buys Arena League team
Monday, January 16, 2012
CLEVELAND (AP) -- Cavaliers owner Dan Gilbert has bought the Cleveland Gladiators of the Arena Football League.
Gilbert's ownership group purchased the team from Jim Ferraro, an area attorney who has owned the Gladiators since 2000. A news conference to announce the sale is scheduled for Tuesday at Quicken Loans Arena, home of the Cavs and Gladiators.
Ferraro moved the franchise to Las Vegas in 2002, and five years later took it to Cleveland after teaming up with former Browns quarterback Bernie Kosar, who has served as a part owner and advisor.
Gilbert's acquisition of the Gladiators was first reported by the Cleveland Plain Dealer.
The Gladiators enjoyed strong early success in Cleveland but have struggled to draw fans in recent seasons. They are scheduled to begin training camp in February.