Dan GIlbert | WOSU Radio

Dan GIlbert

Cleveland Cavaliers owner Dan Gilbert, 57, suffered a stroke and was hospitalized early on Sunday.

Gilbert's current condtiton and the stroke were confirmed late Monday. Press reports initially said Gilbert, founder and chairman of Quicken Loans, was experiencing "stroke-like symptoms" and had been admitted to the Royal Oak Beaumont Hospital in suburban Detroit but offered no additional information.

After several attempts to lure longtime Michigan State head coach Tom Izzo to the Cavaliers, team owner Dan Gilbert found his big-name college coach from Michigan in the Wolverines’ John Beilein.

The Cavs confirmed reaching a multi-year agreement, reportedly five years, with Beilein late Monday morning.

Cleveland Cavaliers chairman Dan Gilbert speaks at news conference announcing the 2022 NBA All -Star game, Thursday, Nov. 1, 2018, in Cleveland.
Tony Dejak / AP

For the fifth time since 2013, the Cavs are looking for a new head coach after parting ways last week with Larry Drew. WKSU sports commentator Terry Pluto said it is hard to predict what team owner Dan Gilbert might want in his next coach.

WKSU commentator Terry Pluto says it's a good time to be an NBA owner. Forbes reports the average team is worth $1.9 billion, up 13% over last year and three times the level of five years ago. 

The Cavs, however, were the only team to lose value over the last year, down about $50 million to $1.2 billion. The New York Knicks top the league at $4 billion.

Winning has no price tag for Cavs owner Dan Gilbert. The team’s recent roster overhaul boosted the team’s payroll to nearly $190 million this season, the second-highest in NBA history. And that payroll could soar to $300 million should LeBron James return to the Cavs next season. Nearly half of that would be spent on a luxury tax for exceeding the NBA’s salary cap.

The Cavs will likely be making some changes ahead of tomorrow’s NBA trade deadline. The struggling team posted another embarrassing loss last night, 116-98 to the Orlando Magic. They also blew a 21-point lead in the game. But, the problems appear to go beyond what’s happening on the court. WKSU commentator Terry Pluto says most of the drama surrounding the Cavs centers on the relationship between its owner and its biggest star.