Chris Tomasson of the Beacon Journal reports that the Cleveland Cavaliers may be up for sale. Attendance is down. Principal owner Gordon Gund has admitted he's losing a "lot" of money. And now the Sports Business Journal reported Monday that the Cavs, who have had four straight losing seasons, are on the selling block. The team has been owned by Gund and his brother, George, since 1983.

The report said the team has "made it clear... that it would entertain offers" and that several potential buyers "have inspected the books." A source said, "seeking a sale price in the mid $200 (million) range." But the report noted that experts said a $250 million price tag "would be too high, even given the NBA's stable economic structure."

The team had no comment, but Gordon Gund spoke on the possibility of selling the team last May after the Gund Brothers decided to sell the NHL?s San Jose Sharks. "I don't know how long I'll be doing this," Gund said. "I enjoy it and continue to enjoy it. Obviously, at some point, if somebody offered me something that was very attractive, I'm a businessman. I'd have to think about it. I wouldn't say never, but I don't have any plans right now."

The Cavs, who have been in Cleveland since 1970, averaged 14,539 fans last season, their second-worst figure in the last 14 years. That included a March 5 game against Atlanta that drew 9,915, their lowest home crowd in more than 13 years. The team went 23-59, its worst record in 16 years.

During a press conference in May 2001, Gund said he was losing a "lot" of money. He declined to give figures.