(WOIO) - Former Cleveland Cavaliers owner George Gund III has died. The 75-year old lost a long battle with cancer in Palm Springs, California on Tuesday.
He, along with his brother Gordon, bought the Cavaliers in 1983 from Ted Stepien. They would have a part in the downtown Gateway project that moved the team's arena from Richfield to Cleveland. The arena was had their name on it, Gund Arena.
Gund also owned the Cleveland Barons in the 1970's. He also owned the Minnesota North Stars of the NHL before selling the franchise. He was awarded the expansion rights of the San Jose Sharks in 1990. Gund sold the team in 2002.
Gund was not only involved with local sports teams, like the Cavaliers and Cleveland Barons, he was also active in Cleveland as a businessman and philanthropist.
He served on the board of the George Gund Foundation, started by his father. The foundation released a statement Tuesday night:
"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."
Gund also served as a trustee for the Cleveland International Film Festival, Cleveland Museum of Art and Cleveland Orchestra.