Cavs Double Down on a Downtown-Centric Philosophy in 2026 Economic Impact Report 

The Cleveland Cavaliers celebrated the 10th anniversary of their 2016 championship run this year. But Rock Entertainment Group is touting more recent wins — and not just that run to the 2026 Eastern Conference Championship finals. 

Today, the holding company that owns the Cavs organization — as well as the Cleveland Monsters, Rocket Arena, the forthcoming Cleveland Sirens WNBA team and more — releases its annual Impact Report. The 113-page “report card,” as CEO Nic Barlage calls it, shines a light on community outreach programs, sustainability efforts, successes on the court and on the stage, and some big spending on three major development projects.

Some of the numbers Rock Entertainment Group’s report touts include:

• $450 million of direct and indirect spending over the last year;

• $250 million of direct spending over the last year;

• $15 million in philanthropy, such as charitable giving, game-day tickets and monetary donations;

• 2,839 jobs provided annually;

• 14 sellout shows, 159 public ticketed events and 61 private ticketed events at Rocket Arena;

• $1.1 billion in Cleveland and $4 billion in Northeast Ohio invested by owner Dan Gilbert’s family of companies; and

• 3.4 million square feet of real estate and 40 acres in Cleveland owned by Bedrock, its real estate sister company.

“Our goal in this community is to be a heartbeat of vibrancy and of support and of impact, and we think this report ultimately reflects that,” says Barlage.

A focus on building up Downtown Cleveland runs through the report — an unstated contrast with the Browns’ decision to move to Brook Park in 2029.

Three major projects anchor Rock Entertainment’s Downtown efforts: the Cleveland Clinic Global Peak Performance Center, a public healthcare center, Cavaliers practice facility and a surrounding riverfront park slated to open in early 2027; Cosm Cleveland, an immersive venue akin to Sphere in Las Vegas with a target open date before football season 2027; and a 6,200-seat riverfront amphitheater, which has not yet broken ground. Combined with relatively smaller efforts — such as the redevelopment of The May building and Tower City Center, as well as the completion of the Meet Me Here Plaza basketball courts — the company sees these projects as complementary, part of a larger vision that aligns with Mayor Justin Bibb’s “Shore-to-Core-to-Shore” plan for Downtown. 

“The Downtown, urban core and central business district is the heart of a region,” Barlage says. “Redefining what the urban core here in Cleveland and Northeast Ohio looks like is part of our daily mission.”

Rock Entertainment Group hopes to bring 5 million people through its district of properties by 2030 thanks to growth of the experience-driven economy. Despite anomalies during the years following COVID lockdowns, events and experiences represent one of the fastest-growing business sectors.

That's largely borne out, but there are concerns about the long-term sustainability of the sector. “Blue dot fever” became a nickname for some big-name tours, such as the Black Keys, and Post Malone and Jelly Roll, which were rumored to scale back after low ticket sales. Many experts blamed the skyrocketing costs of tickets. Plus, other sectors, such as outdoors recreation, have seen growth halt post-pandemic. Joe Berchtold, president and chief financial officer of Live Nation, however, called it “a nice catchy phrase that is absolutely devoid of facts” in an investor meeting, and most numbers bear that out. 

“The post-COVID era was an anomaly, with consumption at its greatest peak. You’re always going to have cycles within an economy, especially since we look at these as 25-, 30-, 40-year assets. When you talk to business leaders, there is some instability within the economy right now,” says Barlage. “But seven out of 10 consumers under 45 or 50 are saying they’d rather spend money on experiences than material goods. 

We now have the infrastructure for a 365-day-a-year city, and more people want to do things than ever.”

Rock Entertainment Group says it's responsible for addressing a community investment strategy that addresses some of the most pressing problems in Cleveland. Some of those efforts include:

• A reading program that touched 6,600 students;

• More than 3 million meals served to food-insecure families;

• 23 basketball courts installed in the city of Cleveland, including the Meet Me Here Plaza at the intersection of Downtown’s Huron Road and Ontario Street; 

• 8,500 volunteer hours; and

• Seats on more than 50 local philanthropic boards.

“We are in the community. We are sitting at the table to hear what’s going on,” says chief impact officer Kevin Clayton. “A lot of people talk about the structures we build. But when you think about the quality of living, the green space that we are creating around these properties that are attractive for people to want to come Downtown, it’s not just the structure of the building but creating places for people to come and enjoy.”

A “report card,” as Barlage calls it, implies more than just successes, though. Where are the organization’s B’s and C’s?

“We don't look at this as if we're ever finished,” says Barlage. “The B's and C's for us are restaurants still going out of business, hotels still turning in keys, still having people in poverty in our community, still having schools and a school district that's evolving itself but needs a lot of help, still people that need food security because they're food insecure. We need to find ways to do more. So, from that vantage point, I think we have to grade ourselves always as a C.”

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