NFL Player Myles Garrett Purchases Minority Stake In Cleveland Cavaliers
Summary
According to NBC Sports, the four-time Pro-Bowler purchased minority stake in the NBAs Cleveland Cavaliers. He becomes part of an ownership group under the leadership of the Cleveland Cavaliers Chairman and Governor Dan Gilbert.The deal was negotiated by Klutch Sports Groups Shey Olaoshebikan, based on a news release.Additionally, Garrett confirmed the news via Twitter on Oct. 25, 2023.I have admired the Cavaliers organizations hard work, tenacity and dedication to the community since my early days in Cleveland, explained Garrett in a news release. To have the opportunity to join this impressive and purpose-filled franchise, under Dans leadership, is truly a dream come true.As a leader on and off the field, Myles has become a Cleveland icon and shares in our organizations commitment to being a transformative force for good across the region, he said, according to the release. We are honored to welcome this long-time friend of the team as our new partner and investor. Myles passion and commitment to the city he loves will allow us to reach new communities and continue to build the successful future of this franchise.The NFL reports that Garrett has been a frequent attendee of Cavaliers games.Whats more, in the same report, it was stated that Garrett has participated in some cross-promotion with the Cavs in the past, even showing up to the teams Summer League game in 2022 in full uniform, participating in warmups with the squad and throwing down a two-handed dunk prior to the start of the game.Now, Garrett has transitioned from being just a fan to taking his post as an owner and official brand ambassador for the Cavaliers.Per the NFL, Garrett is currently under a five-year agreement with the Cleveland Browns valued at $125 million.