Losing $$: Despite Superstar Status the Cavs are reportedly losing Cash

Posted by Web Staff - email | Facebook | Twitter

CLEVELAND, OH (WOIO) - The Cleveland Cavaliers are on fire when it comes to the court but not when it comes to cash.

Insiders say the team is losing millions despite its superstar status.

According to a report in the New York Daily News, despite all that Lebron James has done to turn the Cleveland Cavaliers into a winner, the team has been losing upwards of $20 million per season over the last two seasons, and are projected to lose anywhere from $10-$15 million this season.

The Cavaliers are denying the report and rightfully so, the team has had sold-out crowds at the "Q" for the past two seasons.

©2010 WOIO. All rights reserved.