Cleveland Cavaliers owner Dan Gilbert may be looking to add another sports team to his roster. Crain’s Detroit Business reports Gilbert is part of one bid for the Chelsea Football Club, an English Premier League soccer team.
Crain’s reports the prospective ownership group also includes the Ricketts, who also own the Chicago Cubs and hedge fund billionaire Ken Griffin.
Andrew Zimbalist is a professor at Smith College in Massachusetts who specializes in the economics of sports. He says it’s not unusual for American owners to bid on a foreign team and for someone like Gilbert to throw his name into the ring, given his other holdings.
Zimbalist says it’s unclear if Gilbert will have a controlling stake in the team.
“It’s going to be a challenge, and it’s going to be fun for him. And it gives him more notoriety, more exposure to business people and politicians in England and Europe. So all that is potentially beneficial,” he said.
Sports Illustrated reported over the weekend that Gilbert’s group is one of four finalists for Chelsea FC with final bids due by Monday.
