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Cleveland Cavaliers owner Dan Gilbert provides additional $45 million for 'Q Transformation'

On Tuesday, Cleveland Cavaliers owner Dan Gilbert announced he'll provide an additional $45 million to the transformation project of Quicken Loans Arena.

CLEVELAND -- After closing its doors for nearly four months, Quicken Loans Arena will reopen on Oct. 2 when Justin Timberlake returns to Cleveland for his second of two concerts this year.

But before The Q reopens its doors, Cleveland Cavaliers owner Dan Gilbert has provided an additional boost to the ongoing transformation project occurring at the arena. On Tuesday, Gilbert announced he'll add $45 million in private funding to the 'Q Transformation,' which is expected to be completed in time for the start of the 2019-20 season.

According to a press release, the newfound $45 million in funding will go toward "additional updates and improvements" to the arena. It raises Gilbert and the Cavs' commitment to the project to $115 million, with the total cost for the transformation now totaling $185 million.

Last year, the agreed upon 50-50 split of costs between the Cavs and the city nearly fell apart after the Ohio Supreme Court ruled the deal must head to a public vote -- threatening the initially anticipated start time, as well as Cleveland's chances of potentially hosting an All-Star Game as a result of the renovations. But after a group named the Greater Cleveland Congregations withdrew its petition opposing the transformation, Gilbert and the Cavs recommitted their $70 million to the project, with the city pledging the other $70 million.

As a result of the deal, the Cavs extended their lease with the city through 2034. Renovations on Quicken Loans Arena began on Sept. 14, with accelerated progress having been made on both the exterior and interior of the building since it temporarily closed its doors on June 17.

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