Gilbert buys Cavaliers for $350 million

Dan Gilbert, founder of the nation’s largest online mortgage company, bought the Cleveland Cavaliers for $375 million on Monday from owner Gordon Gund, inheriting a team that is soaring to new heights with LeBron James.

“It’s been a long, long dream,” said Gilbert, founder of Quicken Loans. “I’m definitely pinching myself. This is something I’ve talked about since I was a kid 30 years ago.”

The Detroit businessman heads a group of investors that will assume ownership of the Cavaliers and operational control of the 20,000-seat Gund Arena once the league’s Board of Governors approves the deal.

Gordon Gund will maintain a minority stake of at least 10 percent, a source told the Associated Press on condition of anonymity.

On the court

Cavaliers 94, Bobcats 83: At Charlotte, N.C., unhampered by a plastic mask he wore to protect his broken left cheek, LeBron James scored 26 points to lead Cleveland over Charlotte. James was given the mask Monday morning in Cleveland, then flew to Charlotte to rejoin his team. He said before the game he preferred not to wear the mask, which he needed after Houston center Dikembe Mutombo elbowed him in the face last week.

Raptors 105, Magic 94: At Toronto, Chris Bosh tied his career-high with 25 points and grabbed 12 rebounds while Morris Peterson scored a season-high 21, leading Toronto over Orlando.

Celtics 108, Hornets 90: At Boston, Paul Pierce had 19 points, 10 rebounds and 10 assists for his fourth career triple-double, and Raef LaFrentz had 14 points and 12 rebounds as Boston sent New Orleans to it eight straight loss.

Grizzlies 92, Jazz 82: At Memphis, Tenn., Pau Gasol scored 25 points, grabbed 10 rebounds and keyed a third-quarter rally as Memphis won its season-high fourth consecutive game by beating Utah.

Pistons 87, Bulls 80: At Chicago, Richard Hamilton scored 28 points, 20 in the second half, and Ben Wallace had 16 rebounds and seven points in Detroit’s win over Chicago.

Clippers 102, Nuggets 98: At Denver, Corey Maggette had 33 points and 11 rebounds, and Rick Brunson hit a key 3-pointer with 21 seconds left to lift Los Angeles over Denver.

76ers 112, Warriors 104: At Oakland, Calif., Allen Iverson scored 29 points, Andre Iguodala had 19 points and nine rebounds and Philadelphia beat Golden State.

Off the court

Celtics guard Gary Payton did not play against the Hornets because of a strained left hamstring, ending the second-longest active consecutive games streak (305) in the NBA. Washington’s Antawn Jamison has played in 357 straight games. A.C. Green holds the NBA record of 1,192 consecutive games. … The Phoenix Suns activated center Jake Voskuhl from the injured list. Phoenix cleared up a roster spot earlier by trading second-year forward Zarko Cabarkapa to Golden State for two draft picks.