The Miami Warmth are set to rename FTX Area after ending its naming rights cope with the bankrupt crypto agency FTX.
Miami-Dade County, which owns the sector, had signed a 19-year, $135 million cope with FTX in 2021.
“The experiences about FTX and its associates are extraordinarily disappointing. Miami-Dade County and the Miami HEAT are instantly taking motion to terminate our enterprise relationships with FTX. We will probably be working collectively to discover a new naming rights associate for the sector,” launched the county and the staff in a joint assertion.
FTX filed for Chapter 11 chapter on Friday after a steep fall in crypto costs left the corporate unable to cowl buyer account withdrawals.
FTX had signed a number of sponsorship offers with sports activities groups previously, together with with the Warriors and Wizards.