- Ownership: Dan Gilbert | Jeff Cohen | Nate Forbes
- Business Staff: Len Komoroski
- Basketball Staff: Chris Grant | David Griffin
Founder and Chairman, Quicken Loans Inc.
Majority Owner, Cleveland Cavaliers
Dan Gilbert is Founder and Chairman of Quicken Loans Inc., the nation’s largest online lender and a top-five retail home lender in the United States.
Dan is also majority owner of the NBA’s Cleveland Cavaliers and the American Hockey League’s Lake Erie Monsters, as well as the operator of the Quicken Loans Arena (“The Q”) in Cleveland, Ohio.
Quicken Loans closed a company-record $29 billion of home loan volume in 2010. The company, which employs over 4,000 people nationally, recently was named highest in customer satisfaction among all home loan lenders in the United States in a benchmark study by J.D. Power and Associates. Quicken Loans ranked in the Top-30 of FORTUNE Magazine’s “100 Best Companies to Work For” the past eight consecutive years, ranking as high as #2. The company also has been recognized as one of Computerworld Magazine’s “100 Best Places to Work in Technology” the past seven consecutive years, ranking #1 three of those years.
Quicken Loans moved its headquarters and 1,700 of its team members to downtown Detroit in 2010, where Dan and the company are helping lead a revitalization of Detroit’s urban core. The company plans to move another 2,000 team members from the suburbs to the city by the end of 2011.
Dan founded Rock Financial in 1985. The company grew into one of the largest independent mortgage lenders in the country and in the late 1990s, launched its Internet strategy and quickly positioned itself as the fastest growing direct mortgage lender on the Internet. In 2000, software maker Intuit purchased Rock Financial and the company was renamed “Quicken Loans.” Dan stayed on as CEO, leading the company as it became the largest online home lender. QuickenLoans.com has gone on to earn “Best of the Web” accolades from Forbes, Money and PC Magazine.
In 2002, Dan led a group and purchased Quicken Loans and its affiliated national title company, Title Source, Inc., back from Intuit.
Dan became majority owner of the Cleveland Cavaliers in 2005 and undertook a complete overhaul of the entire organization, installing a new philosophy and winning strategy. Shortly after, the Cavaliers won the 2007 Eastern Conference Championship, advancing to the NBA Finals for the first time in the team’s 37-year history. The team finished the 2008-2009 regular season with a franchise record and NBA-best 66 wins and followed that in 2009-2010 with another NBA-best 61-win regular season.
Dan is a founding partner in private equity group Rockbridge Growth Equity LLC (RBE). The partnership invests in growing businesses in the financial services, Internet technology, consumer-direct marketing, and the sports and entertainment industries. RBE has significant investments in:
- Northcentral University, a premier online educational institution;
- Protect America, a leading home security company;
- Ready Financial, a provider of affordable banking products;
- One on One Marketing; a premier educational institution sales lead provider;
- Connect America, a direct-to-consumer provider of personal emergency response systems, and
- One Reverse Mortgage, a retail national home lender, specializing in reverse mortgages.
Dan is also invested and is involved in the operation of several consumer-based, technology-centered businesses, including:
- Fathead, the leader in sports and entertainment graphics;
- Veritix, a provider of paperless ticketing;
- Xenith, a developer of helmet technology that reduces brain injuries;
- ePrize, the leader in the interactive promotions industry;
- StyleCaster, a community for all things fashion, beauty and music; and
- Quizzle.com, a free on-line personal finance tool.
Dan launched Bizdom U in Detroit in 2007. The non-profit entrepreneurial academy trains, mentors and finances business builders in their start-up enterprises in the city of Detroit. Bizdom U’s mission is to create successful businesses, jobs, growth and wealth in large urban centers. Recently, Bizdom U announced its second location, which will open in downtown Cleveland later this year.
Dan serves on the boards of the Cleveland Clinic, the Washington D.C.-based Children’s National Medical Center (CNMC), and the Children’s Tumor Foundation (CTF.org). Dan also serves as Vice Chairman of the non-profit, M-1 RAIL initiative, formed to lead the vision and implementation of light-rail transportation in downtown Detroit.
Dan earned his bachelor’s degree from Michigan State University and his law degree from Wayne State University. He has received the “Entrepreneur of the Year” award from Ernst & Young and has been inducted into the Junior Achievement Hall of Fame.
CEO Rock Companies
Vice Chairman Cleveland Cavaliers
Principal Rock Gaming LLC
Jeff is CEO and Founder of the Rock Companies, which includes the following family of companies: Rock Construction Company, Inc., Rock Equities LLC and Rock Management LLC. Rock Construction is a builder and developer that was founded in 1991 and has principal offices in Detroit, Michigan. With its affiliates, the company has developed, built and managed numerous commercial and residential projects including offices, custom homes, condominiums, apartment communities and arenas. Rock Construction is a licensed Michigan residential builder, a member of the Michigan Association of Home Builders, and licensed Michigan real estate broker.
Rock Equities was formed in 2001 as a vehicle for pursuing real estate investment opportunities. Its holdings have included properties in Florida, Michigan, Missouri, North Carolina, and Ohio. Rock Equities has over $1 billion in transactions since its inception.
Rock Management is a property management company that manages many of the Rock Companies’ holdings, particularly its properties in Southeastern Michigan, Metropolitan Orlando, North Carolina, and Southeast Ohio. Rock Management currently manages over 2,000 residential units, Quicken Loans Arena (The “Q”) and the Cleveland Cavalier player development facility.
In June 2002, Cohen was part of a small group of investors that purchased Quicken Loans (which today consists of Quicken Loans, Rock Financial and Title Source) from Intuit Inc. Quicken Loans closed a record $29 billion in 2010.
In 2005, Cohen was part of an investor group that acquired the Cleveland Cavaliers basketball club of the National Basketball Association, becoming its Vice Chairman in 2009. The ownership group, is responsible for a complete overhaul of the franchise, including the front office executive team, coaching staff, player personnel and game presentation. The group also renovated the newly named "Quicken Loans Arena," (known as "The Q") including new seats, state-of-the-art scoreboards, video systems, sound systems, arena graphics, signage, security, locker rooms, and suite upgrades. Rock Companies was responsible for overseeing the above construction activity, and acted as the Construction Manager/Owners Representative for the new state-of-the-art 55,000 square foot Cavalier Practice Facility named Cleveland Clinic Courts.
In 2006, Cohen was part of an investor group that acquired and currently operates two consumer–based, technology centered businesses – ePrize, an online promotions company; and Fathead LLC, which licenses and sells a new category of product for the true sports enthusiast. A “Fathead” is a life-size, colorful, vinyl wall graphic of star athletes and logos from the NBA, NFL, NHL, MLB and NASCAR, as well as Hollywood entertainment characters.
In November 2009, Jeff was part of a group that successfully backed a state constitutional amendment bringing casino gaming to Ohio. Rock Gaming will own and operate casinos in downtown Cleveland and downtown Cincinnati. The casinos are expected to open in 2013. It is estimated that this initiative will create 34,000 jobs and roughly $650 million dollars in tax revenue annually statewide. Rock Companies is responsible for overseeing the casino construction activities which total more than $1 billion.
Additionally, Cohen’s group owns and operates Flash Seats, LLC. Flash Seats has created technology and processes that replaces physical tickets for large sports and entertainment events with an electronic approach and offers a secure, online marketplace for transferring and selling tickets in a digital format. The Cavaliers are the first team in professional sports to use this new technology.
Cohen is a Director of the National Association of Home Builders, the Michigan Association of Homebuilders, and serves on the Legislative Affairs Committee of the Michigan Association of Homebuilders. He is currently President of JARC Properties—a non-profit organization providing housing and services to the developmentally disabled—and also serves on the Board of the Jewish Federation of Metropolitan Detroit. He is active in the Juvenile Diabetes Foundation as well as various other charitable organizations.
The Forbes Company, Southfield, Michigan
Cleveland Cavaliers, Vice Chairman
Nathan Forbes is the managing partner of The Forbes Company, a nationally recognized developer, owner and manager of luxury shopping destinations throughout Michigan and Florida. These landmark retail properties include the highly acclaimed Somerset Collection in Troy, Michigan, The Mall at Millenia in Orlando, The Gardens Mall in Palm Beach Gardens, and Waterside Shops in Naples.
Regarded throughout the retail industry as the benchmark for luxury retail development, Women’s Wear Daily featured Nathan Forbes and The Forbes Company’s formula for branding luxury retail properties in its October 16th, 2006 issue.
In June 2002, Forbes was part of a small group of investors that purchased Quicken Loans (which today consists of Quicken Loans, Rock Financial and Title Source) from Intuit Inc. Quicken Loans closed more than $25 billion in home loans in 2009.
In 2005, Forbes was part of an investor group that acquired the Cleveland Cavaliers basketball club of the National Basketball Association. The group has renovated the newly named “Quicken Loans Arena”, (known as “The Q”) including new seats, state-of-the-art scoreboards, video systems, sound systems, arena graphics, signage, security, locker room, suite upgrades, as well as the new state-of-the-art 55,000 square foot Cavalier Practice Facility named Cleveland Clinic Courts.
In 2006, Forbes was part of an investor group that acquired and currently operates Fathead LLC, which licenses and sells a new category of product for the true sports enthusiast. A “Fathead” is a life-size, colorful, vinyl wall graphic of popular sports stars from the NBA, NFL, NHL and MLB in an action pose, or fans favorite team helmets, in addition to NASCAR racecars and Hollywood entertainment characters.
In November 2009, Forbes was part of a group that successfully backed a state constitutional amendment bringing casino gaming to Ohio. Rock Gaming will own and operate casinos in downtown Cleveland and downtown Cincinnati. The casinos are expected to open in 2013. It is estimated that this initiative will create 34,000 jobs and roughly $650 million dollars in tax revenue annually.
Forbes earned a Bachelor of Arts degree from the University of Michigan, and serves on its capital Campaign Committee. Forbes and the company’s respective properties are actively involved in numerous charitable endeavors and organizations. He serves on the Board of Directors of the acclaimed Karmanos Cancer Institute, a world-renowned cancer center that is committed to the highest standard of research, patient care, and education.
Forbes is a member of the International Council of Shopping Centers and the Young Presidents’ Organization. He has also been recognized for his leadership in the Detroit area by receiving an honor of recognition as Detroit Newsmaker of The Year finalist.
CEO, Cavaliers/Quicken Loans Arena
Governor, Lake Erie Monsters
Len Komoroski was named president of the Cavaliers/Quicken Loans Arena organization in April 2003. With more than 30 years of experience in professional sports and entertainment, Komoroski’s leadership and business initiative set a solid foundation from which the NBA Cleveland Cavaliers, AHL Lake Erie Monsters and Quicken Loans Arena has flourished into one of the most successfully operated sports and entertainment organizations in the country.
During the 2003-04 season, Komoroski oversaw the restructuring of how the Cavaliers approached the business community and assembled a staff featuring some of the top sports marketing executives in the industry. He directed the transformation of the Cavaliers communications efforts and called for the dramatic changes that led to developing one of the most dynamic game experiences in the NBA. Those efforts, combined with one very special NBA draft and the team’s improvement on the court, resulted in one of the top business turnaround stories in NBA history.
For the 2003-04 season, the Cavaliers had the largest year-over-year attendance increase in NBA history, progressing from a league-low of 11,497 per game in 2002-03 to 18,288 in 2003-04 (a 59% increase). Television ratings were up 300% and featured revised broadcast agreements resulting in the largest number of locally-televised games in team history. Radio ratings also increased by more than 200% and local merchandise sales grew by 500%.
Since then, Komoroski has led continued growth and development across the board, bringing the Cavs into the top tier of revenue teams in the NBA.
In 2009-10, the Cavaliers experienced a history-making, record-setting regular season both on and off the court. For the first time in Cavaliers history, supported by the largest season ticket base ever, all 41 home games sold out for an average of 20,562 fans per home game and the season ended with 83 consecutive sold out games (dating back to the 2008-09 season). The streak continued into the 2010-11 season through January 21, 2011 with 102 consecutive sellouts.
Under Komoroski’s leadership, the overall business success for the entire organization was recognized when, for two consecutive years in 2009 and 2010, the Cavaliers were named a finalist for Sports Business Journal’s prestigious “Sports Team of the Year” award. The award recognizes excellence and innovation in sports franchise business operations. The Cavaliers were also #1 in the NBA and #5 in all of pro sports in the 2009 ESPN The Magazine Rankings of “How Pro Sports Teams Pay Back Their Fans.”
Among his many achievements at the helm of the Cavaliers business operations, Komoroski played a pivotal role in developing one of the top cable television relationships in the NBA with Fox Sports Ohio, as well as the entitlement of the Cavaliers new state-of-the-art player development facility – Cleveland Clinic Courts.
In addition, he had a leadership role in the acquisition of the American Hockey League franchise, the Lake Erie Monsters, who played their inaugural season at The Q in 2007-08. In just their third season, the Monsters were named the AHL’s 2009-10 Ticket Sales Team of the year after ranking sixth in the league in average attendance. The team saw an increase in almost every ticket sales category, including season tickets, partial plans, groups and overall revenue. The Monsters were also awarded by the AHL for ‘exceptional community service efforts’ during the 2009-10 season, one of only two teams in the league to receive the honor.
Very active as a community and civic leader, Komoroski is passionate about the future of Cleveland and northeast Ohio. He played a significant role on Dan Gilbert’s team in an Ohio constitutional referendum to bring first-class casino gaming to the state’s four largest cities, including Cleveland. The Cleveland casino will be developed in a truly urban setting near The Q and will bring a new vitality to the city, while adding to its stature as an entertainment destination. (Cavaliers majority owner Dan Gilbert’s Rock Gaming partnership will own and develop the future Cleveland and Cincinnati casinos.)
Komoroski serves on the board of directors of the Cleveland chapters of City Year, the American Red Cross and the United Way, as well as the board of Positively Cleveland. He is an associate of The Presidents’ Council and a member of the World Presidents Organization, the 50 Club and the Bluecoats.
Komoroski’s diverse and successful background in sports includes:
NFL Philadelphia Eagles (1996-2003). As Senior Vice President and Chief of Business Operations, Komoroski brought many properties in-house, including the Eagles Television Network, which is the largest developer of local programming in the NFL. Under his guidance, the Eagles established the fan-friendly NFL Training Camp, which was the most heavily attended in the league, featuring autograph sessions, interactive games, hospitality and an extraordinary merchandise tent. He also helped broker a record-setting naming rights deal with NovaCare, garnering a reported $66 million for the Eagles training facility, the NovaCare Complex.
Komoroski also played a leadership role in the development of Lincoln Financial Field, the Eagles state-of-the-art stadium. Through his efforts, the Eagles secured a 20-year, $140 million naming rights agreement with Lincoln Financial Group, which at the time was one of the largest such agreements in pro sports history. He and his business group orchestrated the successful sellout of 172 suites, 8,000 club seats, 29,000 Stadium Builder Licenses and a waiting list of over 40,000 for season tickets.
Through the efforts of Komoroski and his team, the Eagles were among the most successful NFL teams in securing long-term seven-figure per annum “Founding Partner” relationships for the new stadium; in addition, they forged many other substantial six-figure per annum agreements. He also completed top-tier industry agreements for Eagles radio and television coverage and concession agreements for Lincoln Financial Field. Behind Komoroski’s leadership, the organization secured major soccer events, concerts, Division I college football games and the Army/Navy Game, establishing Lincoln Financial Field as one of the most active stadiums in sports. Through these efforts and events the Eagles have become one of the highest grossing franchises in professional sports.
International Hockey League (IHL) Cleveland Lumberjacks (1994-96). As Senior Vice President and Chief Operating Officer of the International Hockey League’s (IHL) Cleveland Lumberjacks, Komoroski immediately transformed the Lumberjacks into a flourishing enterprise. Both attendance and revenues saw sharp increases during Komoroski’s time, and the Lumberjacks were one of three profitable IHL teams in 1996.
NBA Minnesota Timberwolves (1988-94). Komoroski’s first stint in the NBA was with the Minnesota Timberwolves where he played a major role in the start-up of the team and its arena, the Target Center. While Komoroski was Vice President of Sales and the senior sales and marketing official for the team and arena, the Timberwolves became one of the most financially successful organizations in the league.
Komoroski got his start in sports in 1982 with the Pittsburgh Spirit of the Major Indoor Soccer League, followed by management roles with the Pittsburgh Penguins of the National Hockey League and the Minnesota Strikers of the MISL, and as a regional manager for the Miller Brewing Company’s sports marketing arm.
Komoroski is a 1982 cum laude graduate of Duquesne University. He and his wife Denise are the parents of three daughters – Kristin, Kelly, Jamie and one son, Zachary.
Chris Grant was named the ninth general manager in Cleveland Cavaliers history on June 4, 2010. He originally joined the franchise as the club’s vice president of basketball operations/assistant general manager in July 2005.
As general manager, Grant leads the basketball operations department in all day-to-day activities of the team, including overseeing all aspects of scouting, basketball personnel, player acquisitions and the operations of the Cavaliers exclusive NBA Development League affiliate, the Canton Charge. In addition to those responsibilities, he also supervises the athletic performance training team that cares for the medical needs and physical development of each player. Community involvement is also integral to Grant's focus with the team and he guides the player appearance committee (PAC) for the business side of the Cavs organization.
Since being named general manager, Grant has reorganized the team’s front office and committed to building a roster toward creating long-term success. First, he chose a proven leader and winner when he named Byron Scott as the Cavs head coach on July 1, 2010. Grant then began acquiring numerous draft picks, including the Los Angeles Clippers’ 2011 first round pick, which secured the No. 1 overall pick in the 2011 NBA Draft Lottery for Cleveland. Grant selected Kyrie Irving, who went on to win the 2011-12 NBA Rookie of the Year award. In the same draft, he selected Tristan Thompson, who earned all-rookie second team honors.
In his previous role as vice president of basketball operations/assistant general manager, Grant led the process of organizing and preparing for the NBA Draft and maintaining the basketball operations budget. In addition, he worked closely with the team’s general manager in player contract negotiations, trade discussions and procurement of players and the overall day-to-day operations of the team. Grant spearheaded the design and construction of the Cavaliers’ state-of-the-art player development center, Cleveland Clinic Courts, which opened at the start of the 2007 season. The 55,000 square foot facility is one of the most technologically advanced team development centers in pro sports.
Prior to joining the Cavaliers, he spent the previous nine seasons with the Atlanta Hawks where he was promoted in 2004 to the position of vice president of basketball operations and assistant general manager. In his nine years with the Hawks, Grant held six different positions including video intern, video coordinator, advance scout, assistant director of scouting, director of scouting and vice president/assistant general manager.
Grant, a graduate of the University of San Diego, earned a degree in psychology. He also received a master’s degree in educational leadership from USD. Grant spent three seasons on the school’s basketball team after transferring from Canada Junior College. During the summer of 2011, he joined the national advisory board of the Positive Coaching Alliance (PCA), a nonprofit organization that aims to transform the culture of youth sports to give all young athletes the opportunity for a positive, character-building experience. He also joined the Cleveland Clinic Children’s Hospital Leadership Council in the fall of 2011. The nationally recognized Cleveland Clinic Children’s Hospital features world-class pediatric facilities and the country’s top physicians and specialists.
He and his wife, Kelly, have three sons, Cameron, Boden and Hudson.
Vice President of Basketball Operations
David Griffin joined the Cavaliers as vice president of basketball operations in September 2010. In his role as VP of Basketball Operations, Griffin works closely with Cavaliers General Manager Chris Grant on all basketball and front office matters and oversees the team’s scouting and player personnel areas as well as the team’s draft process. Prior to joining the Cavaliers, Griffin spent 17 seasons with the Suns, the last three as the club’s senior vice president of basketball operations after being named to the position in June 2007.
After originally joining the Suns basketball communications department in 1993 as an intern, Griffin has seen his responsibilities steadily grow due to his passion, work ethic and analytical expertise.
After aiding the club’s media relations efforts for four seasons, Griffin moved to the basketball operations side in 1997, where he began with draft and free agency information, video preparation, scouting reports and statistical analysis. Prior to his current assignment, Griffin held the titles of assistant general manager of player personnel, director of player personnel, assistant director of player personnel and basketball operations assistant with the Suns.
Additionally, he has served as tournament director for the NIKE Desert Classic pre-draft camp and was an assistant coach at Scottsdale Community College where he led the recruiting of five players that played Division I. He was also part of the basketball press information team at the 1996 Olympic Games in Atlanta.
The Phoenix native graduated from Arizona State in 1995 with a degree in political science. He and his wife, Meredith, reside on the east side of Cleveland.