Cavs Owner Agrees to Sell Controlling Interest
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The owner of the high-flying Cleveland  Cavaliers has reached an agreement to sell controlling interest  in the team, the National Basketball Association (NBA)  franchise said Monday. Local media reports put the price at  about $375 million.
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Kirk Kerkorian said today that he was selling one-quarter of his stake in the automaker, or 14 million shares.
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Cleveland Cavaliers owner Gordon Gund is involved in contract talks to sell the National Basketball Association team, which has become a top NBA contender behind second-year star LeBron James.
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CHARLOTTE, North Carolina (Ticker) -- Even when he&#39;s more focused on sharing, LeBron James continues to help the Cleveland Cavaliers win big.
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Vivendi&#39;s unit plans to buy out the rap star and his partners from Roc-A-Fella Records, report says. NEW YORK (CNN/Money) - Universal Music Group is close to a deal to buy out the rapper and producer Jay-Z
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An agreement has been reached on the sale of Cheyne Finance, a structured investment vehicle now known as S.I.V. Portfolio, to bidders including Goldman Sachs, the fundâs receivers, Deloitte & Touche said. The $7 billion S.I.V. Portfolio, managed by the hedge fund Cheyne Capital Management, went into receivership in September. The agreement comes after talks with a number of bidders over the last few weeks and consultation with the informal creditorsâ committees, Deloitte said. Under the deal, certain reinvestment opportunities will be offered to some existing creditors of the company. S.I.V.âs, held by banks, hedge funds or other institutions, issue a mixture of short-term debt and capital and buy longer-term assets, which may pay more interest than the amount they pay on their notes. The vehicles encountered trouble in August when liquidity in the credit markets dried up as investors faced exposure to the subprime market.
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LeBron James agreed early Wednesday to a three-year contract extension with the Cleveland Cavaliers, keeping the All-Star forward with the club through at least the 2009-10 season.
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AUBURN HILLS, Mich. - Anyone who tried to sell Thursday&#39;s Heat-Detroit Pistons game as an Eastern Conference finals preview quickly found out one thing â-either team was buying.
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Forward Drew Gooden signed a National Basketball Assocaition contract extension with the Cleveland Cavaliers here Monday, ensuring a key teammate of superstar LeBron James will remain.
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International Management Group, a sports and celebrity management and marketing firm that has represented Tiger Woods, Joe Montana and Derek Jeter, is being sold to a New York buyout specialist firm in a cash deal valued at more than $700 million.
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Cavaliers coach Mike Brown received a two-year contract extension Monday that will keep him with the club through the 2010-11 season.
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By Jeffrey Kelley, Richmond Times-Dispatch, Va.  Dec. 8--Cavalier Telephone has cut a few legal corners that cable  companies must take to sell its television service, city officials say.
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Virginia-based REIT will pay $1B, before transaction costs, for a 50% stake in the properties. NEW YORK  - Real estate investment trust Mills Corp. said Tuesday it will buy a 50 percent managing stake in nine regional malls from a General Motors ...
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Nashville Predators owner Craig Leipold reached an agreement to sell his franchise to Canadian billionaire Jim Balsillie after 10 years of losing money.
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Fannie Mae , the embattled U.S. home financing company, on Wednesday said it agreed to sell &#36;5 billion in preferred stock to institutional buyers as part of an effort to comply with regulatory demands to increase capital.
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An agreement has been reached on the sale of the portfolio of SIV Portfolio, a structured investment vehicle, to bidders including Goldman Sachs , the fund's receivers Deloitte & Touche said on Monday.
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There are a lot of ways to run a big-time sports team, as the sale of the Cavs shows.