Internet casino wants to buy franchise...

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CLEVELAND (AP) -- An Internet casino operator said on Wednesday that it is willing to outbid a Detroit businessman for the Cleveland Cavaliers, possibly opening a bidding war for the NBA team.

Casino Fortune, which bills itself as the world's oldest online gambling company, said it has submitted a letter to owner Gordon Gund that outlines its intent to buy the Cavaliers, who have experienced a financial windfall since the arrival of LeBron James.

Last week, Gund, who bought the Cavs in 1983 for $20 million, said he was in serious negotiations with a potential buyer.

Dan Gilbert, founder of Quicken Loans, has reportedly offered Gund about $375 million for the team and the operating rights to Cleveland's downtown arena.

Trinidad-based Casino Fortune, which previously attempted to buy the Phoenix Suns, said it has not yet gotten a response from Gund's office or Cavaliers management.
 
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