His most notable achievement in the final years of his ownership was drafting high school prodigy and Akron, Ohio native LeBron James with the first-overall pick in the 2003 NBA draft, a move which helped rejuvenate interest among the fan base. In 2005, Gund sold controlling interest of the team to Quicken Loans founder and billionaire Dan Gilbert, maintaining a minority ownership stake for himself. Gund has an NBA championship to his credit via his status as minority owner of the team during the 2015–16 title-winning season. In April 2021, Gund's minority share was bought by majority owner Gilbert.