For more than a decade, the Cleveland Cavaliers have played their home games at Quicken Loans Arena, named after the mortgage company founded by team owner Dan Gilbert.
The arena, which opened in the 90s, became known in Cleveland as “The Q”.
But “The Q” is no more.
The Cavaliers, City of Cleveland and Quicken Loans announced on Tuesday that Quicken Loans Arena will now be known as Rocket Mortgage FieldHouse, as the lender continues to rename itself on behalf of its signing offer.
Quicken launched Rocket Mortgage over three years ago, offering mortgage pre-approvals in minutes and launching a digital mortgage revolution.
Since then, Rocket Mortgage has grown significantly. According to Quicken, 98% of all mortgages issued by Quicken use Rocket Mortgage technology.
With the growing popularity of Rocket Mortgage, the parent company of Quicken, Rock Holdings, began renaming several of Quicken’s sister companies to also bear the “Rocket” name.
Last year the company renamed Internal real estate, a digital platform for connecting consumers with real estate agents, to Rocket houses.
And now, one of the company’s main advertising media will also be called Rocket Mortgage.
“There are a lot of synergies between transforming this great location and the nation’s largest residential housing lender,” Quicken CEO Jay Farner said Tuesday.
“Cleveland has been a big home to us for many years, not only because of the name of the arena, but also because of our very successful 600-member downtown office team,” Farner continued. “We are delighted to see our Rocket Mortgage brand take center stage as we join the Cavaliers in this exciting new era in sports and entertainment history in Cleveland.”
The name change to Quicken Loans Arena is part of a $ 185 million renovation of the facility, which opened in 1994.
“Since 1994, Cleveland has shared countless unforgettable moments in this arena. From hosting world-class musical acts to multiple NBA Finals games, the Rocket Mortgage FieldHouse has been the epicenter of entertainment in Cleveland for decades, ”said Gilbert. “Today marks the start of the next chapter in the evolution of this incredible facility, which is not only one of the best sports and entertainment venues in the world, but a technology hub leading the charge in terms of development. innovation, efficiency and fan experience. “