The building had been called FTX Arena since June 2021, and a 19-year, $135 million sponsorship agreement between FTX and the county was just getting started.
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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