The Cleveland Cavaliers have played their home games for more than a decade Accelerate Loans Arena named for the mortgage company founded by the team’s owner, Dan Gilbert.
The arena, which opened in the 1990s, became known in Cleveland as “The Q”.
But “The Q” no longer exists.
The Cavaliers, the City of Cleveland and Quicken Loans announced Tuesday that Quicken Loans Arena will now be known as the Rocket Mortgage FieldHouse as the lender continues to rename itself in the name of its signature offering.
Launched Rocket Mortgage more than three years ago, Quicken offers mortgage pre-approvals in minutes and ushers in a digital mortgage revolution.
Since then, Rocket Mortgage has grown significantly. Quicken says 98% of all Quicken-issued mortgages use Rocket Mortgage technology.
With the rising popularity of Rocket Mortgage, Quicken’s parent company, Rock Holdings, has begun renaming several of Quicken’s sister companies to include the Rocket name.
The company changed its name last year In-house real estate, a digital platform to connect consumers with real estate agents to Missile houses.
And now one of the company’s signature advertising agencies will also be called Rocket Mortgage.
“There is a lot of synergy between the redesign of this beautiful venue and the largest dormitory lender in the country,” said Jay Farner, CEO of Quicken, on Tuesday.
“Cleveland has been a great home for us for many years, not only because of the arena naming, but also because of our very successful 600-person downtown office,” continued Farner. “We’re thrilled to have our Rocket Mortgage brand central as we join the Cavaliers in this exciting new era in Cleveland’s sports and entertainment history.”
The Quicken Loans Arena renaming is part of a $ 185 million renovation of the facility that opened in 1994.
“Since 1994 Cleveland has shared countless unforgettable moments in this arena. The Rocket Mortgage FieldHouse has been the epicenter of Cleveland entertainment for decades, from hosting world-class music acts to multiple NBA Finals games, “said Gilbert. “Today marks the beginning of the next chapter in the development of this incredible facility that is not only one of the world’s premier sports and entertainment venues, but also a technology hub that leads the way in innovation, efficiency and fan experience.”