Nick Mileti, Founder of the Cleveland Cavaliers and Visionary Sports Owner, Passes Away at 93

Nick Mileti, the visionary founder of the Cleveland Cavaliers and a pivotal figure in Cleveland sports, passed away on Wednesday at the age of 93.

In 1970, Mileti became a central figure in NBA history by founding the Cavaliers, acquiring the expansion team for $3.7 million.

The Cavs played their inaugural season in 1970-71, marking the beginning of Mileti's lasting impact on the franchise and the city.

During Mileti's tenure as owner, the Cavaliers compiled a 305-434 record and reached the playoffs three times.

The most memorable season came in 1975-76 when the Cavs triumphed over the Baltimore Bullets in the conference semifinals, only to fall to the Boston Celtics in the conference finals.

Despite this achievement, Mileti later expressed his deep regret over not winning an NBA championship with the Cavaliers, a sentiment that remained with him throughout his life.

In 1980, Mileti sold his 20% stake in the Cavaliers for $1.4 million, ending his direct involvement with the team.

However, his legacy with the Cavaliers was cemented in 2019 when he was inducted into the Cavaliers Wall of Honor.

Beyond his role with the Cavaliers, Mileti was instrumental in the development of the Richfield Coliseum, a major achievement in his career. When political disagreements stalled the construction of a new downtown arena, Mileti took matters into his own hands.

He purchased land in Richfield, located between Cleveland and Akron, and oversaw the construction of the Richfield Coliseum, which opened on October 26, 1974.

At the time, it was the largest arena in the country, with a capacity of 21,082.

The Coliseum became the Cavaliers' home until 1994, when the team moved to the then-named Gund Arena, now known as Rocket Mortgage FieldHouse.

Mileti's influence extended beyond basketball. In 1972, he led a group that purchased the MLB's then-Cleveland Indians for $10 million.

He also owned the Cleveland Barons of the American Hockey League, the Cleveland Crusaders of the World Hockey Association, and the short-lived CFL team, the Las Vegas Posse.

Additionally, Mileti co-founded Ohio Communications and acquired several radio stations, moving the play-by-play rights for both the Indians and Cavaliers to WWWE-AM.

Despite his extensive business ventures, Mileti also found time to author three books during his retirement.

His publications include Closet Italians: A Dazzling Collection of Illustrious Italians with Non-Italian Names (2004), Beyond Michelangelo: The Deadly Rivalry between Borromini and Bernini (2005), and The Unscrupulous: Scams, Cons, Fakes & Frauds that Poison the Fine Arts (2009).

Nick Mileti's passing marks the end of an era for Cleveland sports.

His entrepreneurial spirit and commitment to the city helped shape the landscape of professional sports in Cleveland, leaving a legacy that will not be forgotten.