Miami to yank FTX name from iconic downtown stadium

Quick Take

  • Officials in Miami-Dade County said they will terminate business relationships with FTX.
  • The Miami Heat and Miami-Dade County will work to find a new naming rights partner for the arena.

Miami-Dade County said it would terminate its business relationship with FTX and remove the company's name on the iconic arena, home to the NBA's Miami Heat, just hours after the troubled crypto exchange filed for bankruptcy

"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," Miami-Dade County Mayor Daniella Levine Cava and the Miami Heat said in a joint statement. "The reports about FTX and its affiliates are extremely disappointing."

Known as the FTX Arena since a $135 million naming rights deal was announced and signed last year, the complex sits in the heart of downtown Miami on Biscayne Bay and also hosts non-basketball events, including concerts and conferences. FTX.US, the American affiliate which was included in the bankruptcy filing, has invested heavily in Miami and recently named the city as its national headquarters.


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About Author

Nathan Crooks is the U.S managing editor at The Block, based in Miami. He was previously at Bloomberg News for 12 years, where he helmed coverage of South Florida after roles as a breaking news editor and bureau chief in Caracas, Venezuela. He's interviewed presidents, government ministers and CEOs, and, besides crypto, has covered major news events on the ground from earthquakes to hurricanes to the Chilean mine rescue in 2018. Nathan, a native of Clarion, Pennsylvania, holds a bachelor's degree from the University of Toronto, where he completed a specialist in political science, and an MBA from American University in Washington, D.C.


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