The Miami Heat and Miami-Dade County are ending their short-lived naming rights deal with the embroiled cryptocurrency company FTX.
The county, which owns the arena, struck a 19-year, $135 million sponsorship deal with FTX in March 2021 and renamed the stadium FTX Arena in June.
On Friday, FTX CEO Sam Bankman-Fried stepped down from his position as the company filed for Chapter 11 bankruptcy, after scrambling to shore up an $8 billion liquidity crisis that has left investors unable to claim their funds. “The reports about FTX and its affiliates are extremely disappointing,” a joint statement from the county and team read. “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 and the Miami HEAT have released the following statement
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Miami HEAT Arena Balks at FTX Naming Rights, Ending 19-Year Deal EarlyPhotos on social media already purport to show the bankrupt crypto exchange’s logo being removed from the arena.
Consulte Mais informação »
Heat, Miami-Dade County Release Statement on Reports About FTXWith the crash of cryptocurrency exchange FTX, the naming-rights holder for the Heat arena, the franchise, and Miami-Dade County stated that it would “take action immediately to terminate” its business relationship with FTX_Official
Consulte Mais informação »
NBA's Miami Heat to terminate relationship with FTX, will get new arena name | CNN BusinessNBA's Miami Heat and Miami-Dade County have terminated their relationship with bankrupt cryptocurrency exchange FTX and will search for a new naming rights partner for their arena in downtown Miami.
Consulte Mais informação »
Miami-Dade, Heat Cutting Ties With FTX Following Crypto Exchange BankruptcyMiami-Dade County and the Miami Heat announced Friday they will be terminating their business relationship with FTX following the news the cryptocurrency exchange will be filing for bankruptcy.
Consulte Mais informação »
Miami Heat will rename FTX Arena after cryptocurrency exchange collapsesFTX, which announced plans to file for bankruptcy Friday, was less than two years into its 19-year, $135 million naming rights deal.
Consulte Mais informação »
Solana’s Wrapped Bitcoin Price Craters, Recovers After FTX Shuts Exit RampUPDATE: soBTC largely recovered in price after FTX US reopened withdrawals, restoring a critical offramp for the wrapped bitcoin asset.
Consulte Mais informação »