HANG TIME HEADQUARTERS — George Gund III, the ex-owner of the Cleveland Cavaliers and Cleveland Barons hockey team, died Tuesday after a long battle with cancer.
Gund, 75, a businessman and philanthropist in addition to being involved in sports team ownership, had been undergoing cancer treatments for the past 18 months, according to the Cleveland Plain Dealer.
Gund and his brother Gordon, 73, owned the Cavaliers franchise from 1983 until they sold it to Quicken Loans founder and billionaire Dan Gilbert in 2005.
Geoffrey Gund, president of the board of trustees, issued a statement on behalf of The George Gund Foundation:
“The deep sadness that my family feels at the passing of my brother George is shared by the entire extended family of The George Gund Foundation and, I am sure, by those who knew George through the Foundation’s work,” the statement read. “He served faithfully and with honor as a trustee of the Foundation for many years carrying out the wishes of our father, his namesake, to contribute to human well-being and the progress of society. He enthusiastically supported the Foundation’s long-term and patient investments in the transformation of Cleveland and he also personally engaged in that effort.”