Cleveland Cavaliers owner and predatory lending magnate Dan Gilbert has shown repeatedly that he is nothing if not miserly. It’s been widely rumored and loosely reported for weeks now that his stinginess was to blame for letting the team’s former general manager, David Griffin, walk last month; a new report from ESPN has a few details on just how his cheapness has been screwing him over.
Gilbert has yet to hire a replacement for Griffin, and his first reported rejection was due at least in part to the billionaire’s unwillingness to pay a normal salary. Per ESPN, he initially offered Chauncey Billups an annual $1.5 million for the role before bumping it up to $2 million—which is just about half the reported league-average starting rate of $4 million.
At less than $2 million, Griffin’s annual salary was among the lowest in the league for his position. After overseeing the Cavaliers’ first-ever NBA championship in 2016, Griffin reportedly asked for a salary more commensurate with his skills. But even with LeBron James publicly voicing support for the team to renew Griffin’s contract, Gilbert refused to meet his salary demands and let him walk just before the start of free agency.
Gilbert has a reported net worth of $5.9 billion.