01/17/2012 10:40 am ET

Reports: Dan Gilbert Buys Another Pro Sports Team

Detroit's Dan Gilbert, founder of Quicken Loans and owner of the Cleveland Cavaliers, has reportedly finalized a deal to buy what's believed to be a near-total ownership stake in the Cleveland Gladiators of the Arena Football League.

No word has leaked yet on a purchase price. The sale is expected to be announced during a Tuesday press conference in Cleveland.

Read more on Crain's Detroit Business