Quicken Loans CEO Dan Gilbert's Recovery Will Take Time

CLEVELAND (CBS DETROIT/AP) — On Wednesday Quicken Loans issued a brief statement on the status of the company's founder Dan Gilbert. Gilbert suffered a stroke on May 26.

"To be clear, Dan's recovery is a process that will take time — but we are all confident that he will meet this challenge head on as he always does," said the statement from Quicken CEO Jay Farner.

57-year-old Gilbert, remains hospitalized.

"Dan's recovery is a process that will take time — but we are all confident that he will meet this challenge head on as he always does," Farner said.

Farner said Gilbert's family reported he "maintains his strong sense of humor and focus on constant improvement." He relayed a story that Gilbert requested "his favorite beverage" while in the hospital and when he learned it couldn't be provided, he "insisted that a review of the hospital's beverage best-practices be completed."

Farner said the Gilbert family is grateful for the support they've received. He had the stroke after falling ill and being taken to a Detroit-area hospital, where he immediately underwent a catheter-based procedure.

Gilbert has owned the Cavs since 2005. He also founded Quicken Loans, the nation's largest online mortgage lender, and has built a billion dollar business empire with numerous company holdings in Ohio and Michigan.

Under Gilbert, the Cavs went to five NBA Finals and won the championship in 2016, the first major sports title by a Cleveland team since the Browns won the NFL championship in 1964.

Gilbert recently introduced new Cavs coach John Beilein, who he helped lure away from Michigan for his first pro job. The Cavs have continued to operate in Gilbert's absence and the club is currently preparing for draft, where they'll have the No. 5 overall pick.

© 2019 CBS Broadcasting Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. Associated Press contributed to this report.