Usher About To Become Part-Owner Of Cleveland Cavaliers

Singer is part of group close to purchasing NBA team for $375 million.

They don’t call him Mr. Entertainment for nothing. After dominating the music world in ’04, Usher’s recently been stepping up his acting game, and now he’s about to move into pro sports.

The R&B crooner is part of an ownership group on the verge of purchasing the NBA’s Cleveland Cavaliers, his reps confirmed, but specifics of the deal won’t be revealed until next week. ESPN has said that the group, of which Usher is a minor part, will seal the deal for $375 million.

Usher is by no means the first artist to invest some major paper into pro ball. In July, Nelly partnered up with the ownership group Bobcats Basketball Holdings LLC, which owns the Charlotte Bobcats, the first minority-owned NBA expansion team (see “Nelly Joins The NBA As Charlotte Bobcats Owner” ). Jay-Z realized his own hoop dreams when an investment group he is in bought the New Jersey Nets for an estimated $300 million late last summer (see “It’s Official: Jay-Z Is A Part-Owner Of New Jersey Nets” ). Jigga’s group, led by real-estate developer Bruce Ratner, wasn’t just about the love of the game. Their goal is to eventually relocate the Nets from New Jersey to Brooklyn.