Sports

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Item Number 199

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(Dan Gilbert is donating tickets for 2 people to watch with him a Cleveland Cavaliers game in the Owner's Suite.)

Dan Gilbert is Chairman and Founder of Quicken Loans, the nation’s largest online lender.  Dan also is majority owner of the NBA Cleveland Cavaliers basketball team and operator of the Quicken Loans Arena in Cleveland, Ohio.  In addition, he recently led the purchase of an American Hockey League (AHL) franchise recently renamed the Lake Erie Monsters that will begin play in the fall of 2007 at Quicken Loans Arena. Quicken Loans closed nearly $18 billion in home loans in calendar year 2006.   The company employs more than 4,300 people and has been ranked a Top 20 "Best Place to Work" in America by FORTUNE Magazine for the past four years and ranked the #1 place to work for technology employees in the United States by Computerworld Magazine two years in a row in 2005 and 2006.Dan founded Rock Financial in 1985 as a 22–year old first–year law student. Rock Financial grew into one of the largest independent mortgage banks in the country. In May of 1998, the company went public on the NASDAQ exchange in an IPO led by Bear Stearns, Inc. In January, 1999, the company launched its internet strategy which quickly positioned itself as the leader in online retail mortgages. In December, 1999, software maker Intuit purchased Rock Financial and the national web operation was renamed Quicken Loans Inc. With Dan staying on as CEO, Quicken Loans quickly became the leading provider of home loans on the Internet. The Quicken Loans Web site has gone on to earn "Best of the Web" accolades from Forbes, Money and PC Magazines.

In July, 2002, (2 1/2 years after the sale to Intuit), Gilbert led a small group of private investors and purchased Quicken Loans Inc., back from Intuit. The company has been 100% privately held since that time. As part of the buy back of the company, Quicken Loans Inc. retained all rights to the Quicken Loans Inc. trademarks.

 Dan became majority owner of the Cavaliers in March, 2005.  In the short period he has owned the Cavaliers, he has led a complete overhaul of the front office executive team, coaching staff, player personnel, and game presentation.  In addition, he has invested $50 million in renovations for the "Quicken Loans Arena" (known as “The Q”) including new seats, state-of-the-art scoreboards, video systems, sound systems, arena graphics, signage, security, player locker rooms, suite upgrades and administrative offices as well as the development of a new player practice facility.  The $25 million training center, named Cleveland Clinic Courts, is currently under construction in nearby Independence, Ohio.  It will provide the Cavaliers with a state-of-the-art practice and training center in the NBA.  In Dan's first full year of ownership, the Cavaliers posted the sixth best record in the NBA at 50–32. The team returned to the playoffs for the first time since 1998, won a playoff series for the first time since 1993, and nearly upset the heavily-favored Detroit Pistons in the second round, taking the Pistons to a seventh and final game. Dan and his partners also operate and invest in consumer–based, technology centered businesses, including: Michigan-based online promotions company, ePrize; 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 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.

Gilbert and his partners also own and operate 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.  Gilbert was Rawlings Sporting Goods' largest shareholder and was instrumental in effecting the sale of Rawlings to K2 in March 2003. Dan recently launched Bizdom U in Detroit.  This Detroit-based entrepreneur academy trains, mentors and finances young entrepreneurs and their start-up businesses in the city of Detroit.   Bizdom U graduates will help create jobs, growth and wealth in inner cities.  Gilbert serves on the boards of the Children’s Tumor Foundation in New York City and the Children’s Hospital of Michigan Foundation. He is a national speaker who has recently been the keynote speaker at Harvard Business School, the University of Michigan Business School, the national NAACP conference as well as numerous other businesses, non–profit and educational groups.Dan is a frequent guest on CNBC's business programs including "guest host" of CNBC's Morning Call. He has appeared many times on ESPN, CNN, FOX, ABC and other networks. Mr. Gilbert earned his bachelor's degree from Michigan State University and his law degree from Wayne State University. He was awarded the "Entrepreneur of the Year" award from Ernst and Young and has been inducted into the Junior Achievement Hall of Fame.  He also is a member of the "Forbes 400." He lives in suburban Detroit with his wife and their 5 children.

Special Instructions

(Dan Gilbert is donating tickets for 2 people to watch with him a Cleveland Cavaliers game in the Owner's Suite.)

We accept Mastercard, Visa, American Express payments, and cash payments. All money is due by Friday, May 25, 2007.

The executives will meet with the winning bidders at a time convenient to both parties, on or before the end of the 2008 basketball season.