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: Beginning in 2021, Michael McCaffrey, the former CEO and majority owner of The Block, took a series of loans from founder and former FTX and Alameda CEO Sam Bankman-Fried. McCaffrey resigned from the company in December 2022 after failing to disclose those transactions.
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