Cavaliers Name Jim Paxson President and General Manager of Basketball Operations

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CLEVELAND, July 31 -- Gordon Gund, owner of the Cleveland Cavaliers, announced today that Jim Paxson, formerly senior vice president and general manager, has been named President and general manager of basketball operations and that his contract has been extended. Per team policy, specific terms and length of the multi-year agreement were not disclosed.

"Jim initiated a plan over three years ago, realizing our plan was not to accept a strategy for short term success, but to place the Cavaliers in position to become contenders for the long term. We are now well on our way towards that goal and, moving forward, Jim will continue to be the chief architect of this plan as our President of Basketball Operations. This is well deserved and I have total confidence in his ability, and that of our team and coaching staff, to reach our goals. He has done an exceptional job and, as a result, the future is very bright for the Cavaliers," said Gund.

Paxson joined the Cavaliers as vice president of basketball operations in 1998 and became senior vice president and general manager in 1999.

"This has been a very challenging and rewarding experience for me over the last several years, and I'm thrilled to have the opportunity to continue our plan to achieve sustained success. Gordon and I both agreed that we could not, and will not, accept any strategy that would lead to mediocrity. He is committed to having the Cavaliers achieve the highest level of success and so am I. Our goal remains to develop a team that can grow to compete for a championship for years to come," stated Paxson.

Paxson came to the Cavaliers after a long association with the Portland Trail Blazers that included two seasons as an NBA All-Star and, finally, three seasons as assistant general manager. He finished his on-court career with the Boston Celtics in 1990. Before the Trail Blazers selected him in the first round with the 12th overall pick of the 1979 NBA Draft, the Ohio native had a stellar collegiate career at the University of Dayton.