Bankruptcy judge terminates FTX naming rights for Miami Heat arena: Miami Herald
Quick Take
- A federal bankruptcy judge on Wednesday terminated FTX’s naming-rights deal with Miami-Dade county for the downtown arena where the NBA’s Miami Heat play, the Miami Herald reported.
- Miami-Dade county will stop using the FTX name immediately and plans to remove all signs from the arena.
A federal bankruptcy judge on Wednesday terminated FTX's naming-rights deal with Miami-Dade county for the downtown arena where the NBA's Miami Heat play, the Miami Herald reported.
The order states that Miami-Dade county will stop using the FTX name immediately and plans to remove all signs from the arena, the paper said.
Officials in Miami-Dade County said in November that they would find a new naming rights partner and work to terminate business relationships with FTX after it filed for bankruptcy. Known as the FTX Arena since a $135 million naming rights deal was announced about two years ago, the complex sits in the heart of downtown Miami and also hosts non-basketball events.
Spokespersons for Miami-Dade county and the Miami Heat did not immediately respond to emailed requests for comment.
Disclaimer: The former CEO and majority shareholder of The Block has disclosed a series of loans from former FTX and Alameda founder Sam Bankman-Fried.
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