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Both the Cavaliers and the Cleveland Guardians
confirmed his passing with announcements on social media
Thursday.
"The Cleveland Guardians are saddened by the loss of former
owner Nick Mileti," the team posted on X. "A native Clevelander,
Mileti was a staple of the 1970s sports world. Our thoughts go
out to his family and friends."
At various times, Mileti also owned two hockey teams in
Cleveland, as well as the Cleveland Arena and the Richfield
Coliseum.
Mileti paid $3.7 million to bring an NBA expansion team to
Cleveland in 1970. He remained part of the Cavaliers' ownership
group until 1980.
In 1972, Mileti headed a group of investors that purchased
Cleveland's major league baseball franchise, then known as the
Indians. Ownership passed to his business partner Ted Bonda in
1975.
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