The Cleveland Cavaliers are set to make a major announcement on Tuesday afternoon. According to John Telich of FOX 8 news in Cleveland, the Cavs’ home, Quicken Loans Arena, will reportedly be renamed to Rocket Mortgage Fieldhouse.
CLEVELAND- A league source told FOX 8 News on Monday evening that Quicken Loans Arena will be renamed. It will reportedly become Rocket Mortgage FieldHouse, according to the source.
The Cavs are all but finished with the two-year renovation of their arena. New additions to the building include a new glass facade and an atrium that will add 42,530 square feet of space.
Cleveland’s basketball venue was initially known as Gund Arena. In 2005, Dan Gilbert purchased the team. The original naming rights for Quicken Loans Arena were extended in August of 2018. This new deal is expected to represent a longer, more lucrative extension, according to Crain’s Cleveland.
The Q’s renovation work is nearly finished, but there are still a few more things that need to be done. The arena has been shut down in the past to work on the project, and it is scheduled to be shut down again after a New Kids On The Block concert on May 4th.
According to Crain’s, a Black Keys concert on Sept. 30 will be the first event at the newly named Rocket Mortgage FieldHouse.
Several team and city officials will reportedly be on hand for Tuesday’s announcement, including owner Dan Gilbert, CEO Len Komoroski, head coach Koby Altman, and Cleveland Mayor Frank Jackson.
The Cavs’ final game of this season will be played on Tuesday night when they’ll welcome the Charlotte Hornets to The Q. Tip-off is set for 7:00 p.m. ET, with FOX Sports Ohio having live broadcast coverage.