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Sources: Cavaliers Vice Chair Out, Minority Owner Taking On Lesser Role In Shakeup

Cavaliers Vice Chair Jeff Cohen "is out," while Minority Owner Nate Forbes has lost influence with Owner Dan Gilbert and is "spending very little time on Cavs business," according to sources cited by Joe Vardon of the Cleveland PLAIN DEALER. Cohen and Forbes are "maintaining their small ownership stakes in the team right now." A source was "unaware of any immediate plans on Gilbert's part to buy either of them out." A source said that Cohen and Forbes "were 'extensions' of Gilbert within the Cavs ... offering input on major trades and organizational decisions presented to Gilbert" by GM David Griffin. The Cavs' two largest shareholders are Gilbert, who owns a majority, and former Majority Owner Gordon Gund, who is "not involved with Cavs decisions at all" (Cleveland PLAIN DEALER, 2/18).

MY NAME IS: In Cleveland, Troy Smith reported Gilbert's StockX, an online resale site for sneakers, recently closed a $6M round of financing from a list of investors that includes Eminem, Mark Wahlberg, Browns CB Joe Haden and several others. StockX is a "'stock market for sneakers' where prices for collectable kicks go up and down depending on their demand." Gilbert co-founded StockX with Josh Luber (CLEVELAND.com, 2/16).

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On this week’s Sports Media Podcast from the New York Post and Sports Business Journal, ESPN’s Jay Bilas talks all things NCAA. Big Ten Network’s Meghan McKeown shares her insight into the Caitlin Clark craze. The Boston Globe’s Chad Finn chats all things Bean Town. And SBJ’s Xavier Hunter drops in to share his findings on how the NWSL is making a social media push.

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SBJ I Factor features an interview with AMB Sports and Entertainment Chief Commercial Office Nana-Yaw Asamoah. Asamoah, who moved over to AMBSE last year after 14 years at the NFL, talks with SBJ’s Ben Fischer about how his role model parents and older sisters pushed him to shrive, how the power of lifelong learning fuels successful people, and why AMBSE was an opportunity he could not pass up. Asamoah is 2021 SBJ Forty Under 40 honoree. SBJ I Factor is a monthly podcast offering interviews with sports executives who have been recipients of one of the magazine’s awards.

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