Cavaliers Renew Plans for $140M Arena Renovations After Scrapping Them Last Week

The plans to renovate Quicken Loans Arena are back on.Cleveland Cavaliers owner Dan Gilbert killed the deal to put $140 million into the team's home arena on Aug. 28, per Karen Farkas of Cleveland.com.On Wednesday, however, the team announced it would renew these plans, per the Associated Press (via ESPN). It will also extend the lease seven more years to 2034.Theoriginal plansfor the renovation began in December 2016, with the aim to upgrade the dining, bars and public gathering space.Cleveland mayor Frank Jackson appreciated what the upgrades would bring to the city, viaFarkas:"I've said it beforethis deal is one of the best I've seen because it provides opportunities for all of Cleveland. Those who demonized this process were shortsighted, and I encourage them to ask themselves what they can do for the future of this city. Strong leadership requiresdoingthe right thing, not just saying what you think people want to hear."The funding for the project is set to be split between the organization and the city, with each providing $70 million. There were complaints from groups who didn't want to spend tax dollars on the upgrades, but a petition was withdrawn to help continue the operation.Delays in construction were also cited as a reason for the recent stoppage by Gilbert.Quicken Loans Arena opened in 1994 and could potentially host the All-Star Game in either 2020 or 2021, but those plans could be on hold if the upgrades aren't started by Sept. 15, perRobert Higgsof Cleveland.com.
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