Myles Garrett, a Cleveland Browns All-Pro, has finalized a deal to purchase a minority stake in the Cleveland Cavaliers. Garrett joins an exceptional group of investors led by Cleveland Cavaliers Chairman and Governor Dan Gilbert. Garrett will also serve as an official Cavaliers brand ambassador.
Garrett has been with the Cleveland Browns franchise since he was selected first overall in the 2017 NFL Draft. The two-time first-team All-Pro, four-time Pro-Bowler and 2020 Walter Payton Man of the Year nominee is also captain of the NFL Waterboys, a charity focused on bringing clean water to communities in the U.S. and abroad.
“As a leader on and off the field, Myles has become a Cleveland icon and shares in our organization’s commitment to being a transformative force for good across the region,” Gilbert said. “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.”
“I have admired the Cavaliers organization’s hard work, tenacity and dedication to the community since my early days in Cleveland,” said Garrett. “To have the opportunity to join this impressive and purpose-filled franchise, under Dan’s leadership, is truly a dream come true.”
Shey Olaoshebikan of Klutch Sports Group negotiated the deal for Garrett.
For the past 30 years, the Cavaliers organization has been committed to uplifting Northeast Ohio, with an emphasis on education, food security, recreation and creating safe places to live, work, learn and play. Since 1993, the Cavaliers have invested more than $48 million total in community, civic, and charitable giving. The organization recently raised an additional $1 million through the Cavaliers Community Foundation’s Wine and Gold Gala.