Earlier on Thursday, the Greater Cleveland Congregations (GCC) withdrew its petitions challenging the Quicken Loans Arena transformation project.

The Cleveland Cavaliers have now responded.

"We are encouraged by this new development related to the private-public partnership plan to transform The Q for the long term," Len Komoroski, CEO of the Cleveland Cavaliers and Quicken Loans Arena organization said. "We are reviewing the impact of this change and discussing it further with the County, the City and others."

On Monday, the Cavs withdrew their participation in the previously agreed upon deal with Cuyahoga County, citing delays stemming from the petitions making renovations to Quicken Loans Arena unfeasible. The Cavs' decision to void the deal came 18 days after the Ohio Supreme Court ruled that the deal must head to a public vote, after the GCC led a petition drive to force a referendum on the deal.

In its original form, the Q deal would have seen the Cavs commit $70 million to a $140 million renovation to Quicken Loans Arena, with public funding -- largely via an admissions tax on tickets sold to all arena events -- accounting for the other $70 million. It also would have extended the Cavs' lease in Cleveland from 2027 to 2034 and would have potentially brought the 2020 or 2021 NBA All-Star Game to Cleveland if construction started on time.

The GCC's decision to withdraw its petitions based on Cuyahoga County's commitment to researching the costs and best practices associated with building a pair of mental health and substance abuse crisis centers appears to have breathed new life into the deal. And based on Komoroski's statement, it may not be long before an agreement is back on the table.