The Miami Heat will rename FTX Arena after its naming partner filed for bankruptcy last week.
The arena had been called FTX Arena since June 2021 as part of a 19-year, $135-million sponsorship agreement between FTX and Miami-Dade County. Miami-Dade County mayor Daniella Levine Cava and the Miami Heat said in a joint statement that the news regarding FTX was “extremely disappointing.”
Miami-Dade County and the Miami HEAT have released the following statement pic.twitter.com/ERZo1IsZ2o
— Miami HEAT (@MiamiHEAT) November 12, 2022
“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,” the statement read. FTX and Miami-Dade County announced the arena deal back in March of 2021, changing the name of the facility from AmericanAirlines Arena to FTX Arena.
FTX filed for bankruptcy on Friday, putting an end to the third-largest cryptocurrency exchange in the world. Of course that means a new name is coming, and the Heat are receiving all kinds of offers. Not only have the Bang Bros put out an offer, the Florida based Strip Club Booby Trap has also offered major money to have their name on the Arena.
See a rendering below:
According to our source, world famous Strip Club the Booby Trap offered $5 Million Dollars to have the naming rights for the Miami Heat’s arena. As of now the Heat have yet to announce their decision on who will get the naming rights. Hopefully the Heat can ball out at the Booby Trap, then head over there after their games.
It’s about time we get a sexy name for an arena.
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