Nike Mileti, who founded and owned the Cavaliers along with various other athletic teams in Cleveland, has passed away, as per his family and Dan Coughlin from Fox 8 News. He was 93 years of age.
Mileti died on Wednesday morning, as reported by Fox 8. A local from Cleveland and a former attorney, he launched the Cavaliers franchise in 1970, contributing a $3.7 million expansion fee to become a member of the NBA.
Before this, he obtained the Cleveland Barons hockey team and the original Cleveland Arena, and subsequently, he secured the baseball team known as the Cleveland Indians, in addition to another hockey team, the Cleveland Crusaders.
Moreover, Mileti bought land in Richfield to build the renowned Coliseum in 1974, which he also owned. The venue opened with a Frank Sinatra concert on October 26, 1974, and became the stage for unforgettable moments in Cavs history, such as The Miracle of Richfield and the formidable teams of the late 1980s and early ’90s that included stars like Brad Daugherty, Mark Price, Larry Nance, and coach Lenny Wilkens.
“I want to have fun, make some money, and leave a legacy,” he told sportswriter Bob Oates from the Los Angeles Times in 1972.
The Cavaliers acknowledged Mileti with a championship ring after the team captured its first and only title in 2016.
“The Cavaliers came closest to clinching a title among all of Mileti’s sports franchises,” highlighted Larry Pantages of the Akron Beacon Journal in August 2021. “They made the NBA playoffs for the first time in the 1975-76 season and won an exhilarating seven-game series against the Washington Bullets, but ultimately lost to the Boston Celtics in the Eastern Conference finals.
“The 16-day journey from April 13-29 became known as ‘The Miracle of Richfield’ and remains fondly remembered by fans during a challenging period for the Browns and the Cleveland baseball team.
“If star forward Jim Chones had not experienced a fractured foot and missed playing time, some analysts believed the Cavs could have defeated the Celtics and been favored against the Phoenix Suns in the NBA Finals. Sadly, that was not meant to occur.”
Mileti extended his appreciation to fans in a letter featured in the 1976-77 souvenir game program.
“You have become legends in your own right,” he remarked. “You set the benchmark for all basketball crowds from this point forward. Everyone associated with the Cavaliers takes pride in you and your significant role in… guiding the team towards a championship and reinstating the word PRIDE into the narrative of Northeast Ohio.”
In June 1980, Mileti relinquished ownership of the Cavs to the ultimately infamous owner Ted Stepien.
“Mileti eventually departed Cleveland in 1979 for Beverly Hills, where he produced and financed plays and movies, before making his return to Northeast Ohio,” noted Lou Maglio of Fox 8.
