Sports

Miami Heat Finally Rids Its Arena of FTX Branding

NEW YEAR, NEW ME

The arena will be renamed after Miami-Dade was released from a sponsorship deal with the embattled crypto exchange.

GettyImages-1435553199_lsxbjj
Megan Briggs/Getty Images

The FTX arena is no more. As the crypto exchange faces a disastrous collapse, and founder Sam Bankman-Fried battles charges of lying to investors and stealing billions of dollars, a federal bankruptcy judge has terminated the naming-rights agreement between the company and Miami-Dade county. The Wednesday ruling ends a $135 million sponsorship deal that put FTX}s name on the Miami Heat court and the logo atop the arena. Miami-Dade will remove any mention of FTX from the arena, retroactively ending the deal on Dec. 31.

Read it at Miami Herald

Got a tip? Send it to The Daily Beast here.