The Cleveland Cavaliers have canceled a planned $140 million renovation of Quicken Loans Arena, the team announced in a press release. The project’s funding was supposed to be split in half: $70 million in public taxpayer money, and $70 million from the Cavaliers and owner Dan Gilbert.
Cavaliers cancel a planned $140 million renovation to Quicken Loans Arena
This ambitious project won’t be happening anymore, and it’s probably costing Cleveland an All-Star Game.
David Richard-USA TODAY Sports
There were also plans to renovate “40 gym courts and floors in the city of Cleveland’s rec centers and all Cleveland Metropolitan School Districts high schools,” something that will be scrapped along with the rest of the project.
Earlier this month, the Ohio Supreme Court passed a ruling that postponed the previously approved renovations plan and ultimately scrapped it.
Cleveland’s bid for the 2020 or 2021 All-Star Game will be scrapped, too. The NBA said that the city would not be considered unless they started construction renovations by this fall.
In the press release, the Cavaliers noted that the planned renovations would have included the following:
- Significantly upgraded one of the oldest arenas in the NBA
- Make it more competitive for the long term with other nearby midwestern cities and national venues to maintain and attract additional events
- Created over 2,500 project-related construction jobs
- Grown The Q’s permanent job base to 3,200
- Increased tax revenue to the City’s General Fund and neighborhoods
- Extended the Cavaliers lease for The Q to 2034
- Help maintain state and local taxes such as the $44 million in 2016 and potential growing tax revenue source to Cleveland through 2034
- Rehabbed 40 gym courts and floors in the city of Cleveland’s rec centers and all Cleveland Metropolitan School Districts high schools
- Brought an NBA All-Star Game to Cleveland in 2020 or 2021 along with its $100 million+ economic impact
Quicken Loans Arena opened in 1994 and is one of the oldest arenas running that still hasn’t undergone major renovations. That’s not to say the arena has been ignored — it boasts one of the league’s biggest video boards and also became the first NBA arena to be sensory inclusive. But there are other areas of the arena that would readily take upgrades.
If you’re wondering for reasons why, here’s one possibly explanation.
Regardless, Quicken Loans Arena will remain a fine place to play basketball, but it won’t be nearly as nice as the Cavaliers hoped it would be had these upgrades taken place.
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