FTX Officially Loses Naming Rights to Miami Heat's Arena
Jan 12,2023,01:02
At Wednesday's court hearing in the Bankruptcy Court of Delaware, a judge terminated FTX's naming rights deal with the home arena of Miami Heat. The owner of the arena is now allowed to look for new bidders and partnerships on the building.
In March 2021, then FTX CEO SBF signed a 19-year contract with Miami-Dade, the arena's owners, for a $135 million naming rights deal. Following FTX's bankruptcy filing, officials in Miami-Dade filed a motion to terminate the agreement on November 22nd, and were granted permission to take down FTX signage on the arena.
