The arena where the Miami Heat play will soon have a new name, after the team and Miami-Dade County decided to begin actions to terminate their relationship with FTX.
FILE - Miami Heat forward Duncan Robinson drives to the basket past Golden State Warriors guard Ty Jerome during the second half of an NBA basketball game at FTX Arena, Nov. 1, 2022, in Miami. The Heat and Miami-Dade County decided Friday, Nov. 11, 2022, to terminate their relationship with FTX on the same day the cryptocurrency exchange filed for bankruptcy.
In a joint statement Friday night, Miami-Dade County Mayor Daniella Levine Cava and the Heat said the news regarding FTX was “extremely disappointing.” FTX entered into a number of sports-related deals, including with Mercedes for Formula One racing and a sponsorship deal with Major League Baseball — whose umpires wear the company’s logo. Earlier Friday, Mercedes said it would immediately remove FTX logos from its Formula One cars.
Miami-Dade County, which owns the arena and negotiated the naming rights deal, struck the agreement with FTX in March 2021. The name of the building changed from AmericanAirlines Arena to FTX Arena three months later.
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