Gilbert settling in with Cavaliers

ByABC News
August 26, 2014, 8:52 AM

— -- CLEVELAND -- After spending $375 million to buy the Cleveland Cavaliers, Dan Gilbert had just enough money left for another important investment. He took LeBron James to dinner. "I had a little left on one credit card," Gilbert joked. The Detroit businessman officially took control of the NBA franchise on Tuesday when the NBA's board of governors formally approved his purchase from Gordon Gund. The past 24 hours have been a whirlwind for Gilbert, who spent much of Wednesday in meetings with Cavaliers front office members, coach Paul Silas and Cleveland players. He and James dined together on Tuesday night. It was their first chance to talk face-to-face about the franchise they both hope to someday lead to a world championship. NBA rules prohibited Gilbert from having any discussions with players while the team's sale was pending, so he was eager to hear what the 20-year-old James had to say. "It was the first time we really talked," Gilbert said. "He's mature beyond his years. He's a great guy who just wants to win. He's a highly competitive person and that made me feel real good." Gilbert said he plans to offer James, the league's reigning rookie of the year, a maximum contract as soon as possible. The team can first do that next summer. Before then, Gilbert said the club intends to re-sign All-Star center Zydrunas Ilgauskas, whose six-year, $71 million contract expires after this season. "He wants to stay here, and we want him, too," said Gilbert, who hasn't begun formal talks with Ilgauskas' agent. "I believe when two sides want something then it will happen. It shouldn't be a big problem." Gilbert has attended a few games since agreeing to buy the Cavaliers from Gund, who is keeping a 15-percent share of the team. On Monday night, Gilbert sat courtside to watch the Cavs play San Antonio and was surprised at the lack of energy in the building. "I think it's kind of quiet in here," said Gilbert, who plans to improve the game-night experience for Cleveland fans. "In the second quarter, we were beating the best team in the league and you could hear a pin drop. It wasn't until they end that they got crazy." Gilbert said James and Ilgauskas both told him they wished Cleveland's fans were rowdier. "They said (crowd noise) does matter," he said. Among Gilbert's initial plans in Cleveland are to give the arena a facelift with a new scoreboard and state-of-the-art signs ringing the entire lower level. The mortgage banker plans to travel with the Cavaliers to some road games. Some of the players have already approached Gilbert about buying a new plane and building a new practice facility.