Earlier this summer, the Cleveland Cavaliers announced their participation in an arena renovation project that came to be known as “The Q Transformation Project.” However, due to opposition from several local groups, the Cavs decided to withdraw from the $140 million venture earlier this week. All may not be lost, however.
According to Karen Farkas of cleveland.com, the Cavs may choose to reconsider their decision to pull out of the deal now that referendum petitions have been withdrawn.
“We are very encouraged by this new development related to the private-public partnership plan to transform The Q for the long term,” Cavs CEO Len Komoroski said in an official statement. “We are reviewing the impact of this change and discussing it further with the County, the City and others.”
What does this mean for the Cavs’ hopes of hosting the NBA’s All-Star festivities, you ask? Well, if an agreement is reached and construction begins by mid-September, those dreams could still become reality, but the metaphorical ball will need to start rolling sooner rather than later.
On Thursday, Cleveland’s Mayor, Frank Jackson, released a statement of his own with regards to those who opposed the renovation.
“I am encouraged that those who once stood in opposition of the Q Transformation Deal have reconsidered,” Cleveland Mayor Jackson said in his statement. “It is in the best interest of the City of Cleveland and its citizens that this deal moves forward.”
Greater Cleveland Congregations, one of the groups who were opposed to the arena’s transformation, said they will withdraw their petitions due to the county’s commitment to mental health and substance abuse crisis centers. Prior to backing out, GCC was asking the Cavs for a dollar-for-dollar match of the $140 million to use for neighborhood investments.
The Q, now 22 years in operation, is the oldest NBA arena without a major face-lift. Now, let that sink in, then think about how much the complex means to the city of Cleveland’s economic engine.