Miami HEAT arena balks at FTX naming rights, ending 19-year deal early
2022/11/12 06:14
According to Coindesk, mere hours after FTX filed for bankruptcy, the Miami HEAT and Miami-Dade County issued a joint statement announcing they were cutting ties with the crypto exchange – effective immediately. Photos circulating on social media already purport to show FTX’s logo being dismantled from the top of the arena. The 19-year contract cost FTX a whopping $135 million. “The reports about FTX and its affiliates are extremely disappointing. Miami-Dade County and the Miami HEAT are immediately taking action to terminate our business relationships with FTX, and we will be working together to find a new naming rights partner for the arena,” a press statement issued Friday reads.
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