Cleveland Cavaliers Lost $40M Despite Winning Championship

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The Cleveland Cavaliers found themselves atop the basketball world last year when they won the NBA championship by coming back from a 3-1 series deficit to defeat the Golden State Warriors. As Lebron James brought back a championship to Northeast Ohio just like he promised and the world was flooded with “Warriors blew a 3-1 lead” memes, Cavs owner Dan Gilbert was still writing checks–a lot of them.

 

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