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FTX bankruptcy filing: The Miami Heat’s home arena is seeking a new naming sponsor for the building.
Abstract：According to reports, The Miami Heat of the National Basketball Association (NBA) dropped FTX’s name after FTX’s bankruptcy filing.
According to reports, The Miami Heat of the National Basketball Association (NBA) dropped FTX‘s name after FTX’s bankruptcy filing. The Miami Heat is an American professional basketball team based in Miami. The Heat competes in NBA as a member of the league's Eastern Conference Southeast Division. Until now, Miami Heat has won three NBA championships.
The home arena of the Miami Heat used to be named FTX Arena as the business cooperation made between the crypto exchange FTX and Miami Heat. In March 2021, FTX gained the naming rights to the Miami Heat home arena for $135 million over 19 years.
As we know so far, the Miami Heat team is extremely disappointed about what happened on FTX. Miami Heat has terminated its business cooperation with FTX. It now is seeking a new naming sponsor for the home arena.
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