That being said, Gilbert admitted the franchise was still recovering from being eliminated from the Eastern Conference finals by the Orlando Magic in six games.

"Nobody is satisfied, nobody is happy," the owner said. "We had one goal, and we didn't meet it."

Wearing jeans, a navy blue sport coat, a light blue striped shirt and no tie, Gilbert spoke for about 20 minutes and covered a variety of topics, including:

His commitment to bringing a title to Cleveland. He said he met with GM Danny Ferry and coach Mike Brown all day on Wednesday as the organization begins to review the season and look ahead to the draft, free agency and next season.

"We will win a championship in Cleveland, Ohio," vowed Gilbert, who thanked all the fans and all the Cavs and Q employees. "It will happen."

Gilbert, saying the team was in the "break-even neighborhood" financially, pledged to do whatever it will take to win that title.

"Financially, we will spend what we feel gives us the best risk/return opportunity to win a championship," he said.

His agreement to sell part of the team to investors from China, which must be approved the NBA's Board of Governors. Noting that a couple of years ago, 300 million Basketball fans in China watched a game between Houston and Milwaukee, featuring Chinese stars Yao Ming and Yi Jianlian, respectively, Gilbert said, "NBA Basketball in China is booming. . . . Hopefully they'll bring a lot to the table."

Asked what he'd tell fans who are nervous about whether James will re-sign with the Cavs, Gilbert joked, "You think you're nervous. . ." But then he turned serious and said, "We feel very confident that this franchise and the direction we're going, the things we're doing, will make it the best place to play

Basketball for our current players, LeBron James, future players or anybody else. That's all we can do - try to create the best environment, the best culture, create a team that has the best chances of ultimately winning an NBA championship - or more.

"We're doing that. I feel very, very good about that."

He declined to say whether he expected James to sign an extension this summer. He also said he had not spoken to Ben Wallace, who told reporters he was considering retiring. Gilbert said Ferry probably would wait a couple of weeks to let the emotion of the playoffs die down before talking to Wallace.

His reaction to James not shaking hands with the Magic players after losing and not speaking to the media. "As you know now, there were a lot of things going on in that young man's head," he said, referring to his medical situation. "Nobody's perfect. . . . Overall, this guy has a pretty doggone good track record."

Gilbert did reveal that some time ago he had a conversation with NBA Commissioner David Stern about the NBA adopting a postgame handshake similar to what the NHL has in the Stanley Cup playoffs.

Reaffirmed his support for casinos in Ohio, if the state is to compete with surrounding states that permit gambling.

James is 19th: LeBron James was ranked No. 19 on this year's Celebrity 100 list, Forbes' annual ranking of the world's rich and famous. James was ranked No. 16 last year.

The magazine reports James earned $40 million this year and says, "James won this year's NBA Most Valuable Player award in a landslide after leading the Cavaliers to the best record in the league. General managers across the league are frothing at the mouth as King James' free-agent status looms next summer. The Cavs are the odds-on favorite to sign him, because they can offer the biggest contract under the league's salary-cap rules. The Knicks will be a player if he wants the bright lights of New York. Two-year agreement with Microsoft expired at the end of 2008, but he retains endorsement contracts with Nike, Upper Deck, State Farm Insurance and VitaminWater."

According to Forbes, the Celebrity 100, which includes film and television actors, models, chefs, athletes, authors and musicians, is a measure of entertainment-related earnings and media visibility (exposure in print, television, radio and online). The earnings estimates consist of pre-tax income between June 2008 and June 2009. Management, agent and attorney fees are not deducted.

The top five on this year's list are Angelina Jolie ($27 million), Oprah Winfrey ($275 million), Madonna ($110 million), Beyonc? Knowles ($87 million) and Tiger Woods ($110 million).

To reach this Plain Dealer reporter: mschmitt@plaind.com, 216-999-4668

Gilbert on the Cavaliers' loss to the Magic:

"Nobody is satisfied, nobody is happy. We had one goal, and we didn't meet it."

*

On LeBron James' future with the Cavaliers :

"We feel very

confident that this franchise and the

direction we're going, the things we're doing, will make it the best place to play

Basketball for our

current players,

LeBron James, future players or anybody else."

*

On his financial commitment:

"Financially, we will spend what we feel gives us the best risk/return opportunity to win a championship."