Well considering the situation that befronts the Cleveland Cavaliers. The question now has to be asked is the franchise’s owner Dan Gilbert looking to line up all of his ducks in a row ?
As the majority stakeholder in the entity that owns the Quicken Loans Arena and the Cleveland Cavaliers franchise. The rumors and rumbling concerning Gilbert and the very fact that he’s prepared to sell a minority stake in the franchise to a Chinese investment group led by Jianhua (Kenny) Huang.
It’s rumored that Huang and his business partners were in town as guests of Gilbert , the successive business entrepeneur who created mortgage giant and financial services company Quicken Loans Inc. Albeit that the economy is in something of a mess primarily stemming from the mortgage crisis brought about by the egregious acts by not only the borrowers . But also the predatory lending practices of many of the major financial institutions that led to gargantuan debacle.
We all know of AIGFP (American International Financial Products) and its parent company AIG. AIGFP , the subsidiary company behind the derivatives meltdown that has led to trillions of dollars being wiped off the major stock indices around the world. Never mind the fact that for a number of employees that’ve seen their net worth diminish rather rapidly in a short space of time.
As for Gilbert’s own wish to have a cash infusion into the Cavaliers’ organization. It’s quite understandable given the fact that he and the hierarchy within the Cavaliers’ inner circle have got to be looking ahead as to the direction they believe the franchise to be heading in. In 2010 they’ve got to look secure the re-signing of their superstar LeBron James . And if nothing else bolster the roster if the franchise is to be thought of as a legitimate contender for postseason honors, in terms of winning an NBA championship.
The postseason travails of the Cavaliers thus far has been impressive. But now it appears that they’ve ran into a buzz-saw in the guise of the Orlando Magic. With tonight’s 99-89 loss to the Magic and the fact that they now find themselves in a 2-1 deficit in the Eastern Conference Finals. It might suggest Gilbert may well of the opinion that the team mightn’t be the franchise everyone believed them to be .
The postseason has a way of creating something of an illusion. And nowhere is it now becoming more apparent than with the all too unbelievable fortunes that has befallen the franchise. What was seen as the season that was filled with so much promise. All of a sudden it looks as if it’s all falling at the feet of LeBron and his castmates. But for his heroics in game 2 , we’d be talking about the Magic leading this series 3-0 and looking to close it out , in double quick time. And though the belief is that this series is still far from over and there’s still a great deal to play. One can’t but help feeling that a further loss. And indeed the postseason ambitions of the Cavaliers would be definitely dead and buried , bar the shouting.
Now comes the hard part how will this all be viewed by the fans of the Cleveland Cavaliers ? Would the impression be that Gilbert is looking to actually sell the franchise ? Could his financial viability be teetering on the brink of a precipice ? Billionaire or not this is still a tough time for everyone in this financial meltdown.
Gilbert is merely looking to make sure that his slice of the pie still remains the same. And if anything also his slice of the American Dream still is in tact. The fact that he might be selling to a foreign investor shouldn’t really be a cause for concern should it ?
Afterall it’s not as if it’s a major industrial entity that’s now falling into the hands of a foreign invader ? Or is it ?