Miami Heat Terminate Relationship With FTX Arena
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The Miami Heat and Miami-Dade County have terminated their relationship with FTX and will be searching for a new name for the downtown arena.
The Heat decided to go in a different direction once the crypto exchange company starting having problems and eventually collapsed.
Here's the joint statement the Heat and Miami-Dade County.
The reports about FTX and its affiliates are extremely disappointing. 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. We are proud of the impact our Peace & Prosperity Plan - sponsored by County Commissioner Keon Hardemon and funded through the original deal - is already having in preventing violence and creating opportunity for young people across Miami-Dade, and we look forward to identifying a new partner to continue funding these important programs in years ahead."
The Heat were only with FTX since June of 2021.
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