Dan Gilbert and the Cavs organization are paying an extra $45 million to fund the Quicken Loans Arena transformation that is set to be unveiled when the arena reopens in October.
The new amount brings the total contribution by Gilbert and the Cavs to $115 million, more than 60 percent of the total $185 million project com
According to a press release from the Quicken Loans Arena, the original project was estimated to cost around $140 million with 50 percent of which would be covered by the Cavs organization.
The Cavs’ funding will cover all “non-public, club, suite, team, premium space, AV/LED, lighting and multi-media upgrades, as well as a significant portion of the public space updates, which includes concourse improvements and square footage increases,” the press release said.
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