For more than a decade, the Cleveland Cavaliers have played their home games at Quicken Loans Arena, named for the mortgage company started by the team’s 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, the city of Cleveland, and Quicken Loans announced Tuesday that Quicken Loans Arena will now be known as Rocket Mortgage FieldHouse, as the lender continues to rebrand itself in the name of its signature offering.
Quicken launched Rocket Mortgage more than three years ago, offering mortgage preapprovals in minutes and jumpstarting a digital mortgage revolution.
Since then, Rocket Mortgage has grown substantially. According to Quicken, 98% of all mortgages originated by Quicken make use of Rocket Mortgage technology.
With the popularity of Rocket Mortgage on the rise, Quicken’s parent company, Rock Holdings, has begun rebranding several of Quicken’s sister companies to also carry the “Rocket” name.
Last year, the company rebranded In-House Realty, a digital platform for matching consumers with real estate agents, to Rocket Homes.
And now, one of the company’s signature advertising outlets will carry the Rocket Mortgage name as well.
“There are many synergies between the transformation of this beautiful venue and the nation’s largest residential home lender,” Quicken CEO Jay Farner said Tuesday.
“Cleveland has been a great home to us for many years, not only because of the arena naming, but also because our highly successful 600-team member downtown office,” Farner continued. “We are thrilled to see our Rocket Mortgage brand take center stage while we join the Cavaliers in this exciting new era of Cleveland sports and entertainment history.”
The renaming of Quicken Loans Arena is part of a $185 million renovation to the facility, which opened in 1994.
“Since 1994, Cleveland has shared countless unforgettable moments at this arena. From hosting world-class music acts to multiple NBA Finals games, the Rocket Mortgage FieldHouse has been the epicenter of entertainment in Cleveland for decades,” Gilbert said. “Today marks the beginning of the next chapter in the evolution of this incredible facility, as not just one of the world’s premier sports and entertainment venues, but a hub of technology that is leading the charge in innovation, efficiency and fan experience.”