Dan Gilbert buys Arena League team

Updated: January 17, 2012, 3:02 AM ET
Associated Press

CLEVELAND -- Cavaliers owner Dan Gilbert has bought the Cleveland Gladiators of the Arena Football League.

Gilbert's ownership group purchased the team from Jim Ferraro, an area attorney who has owned the Gladiators since 2000. A news conference to announce the sale is scheduled for Tuesday at Quicken Loans Arena, home of the Cavs and Gladiators.

Ferraro moved the franchise to Las Vegas in 2002, and five years later took it to Cleveland after teaming up with former Browns quarterback ...

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