Miami Heat-FTX Arena naming rights agreement officially terminated effective today | January 11th, 2023

Over the past few months, the Miami Heat have been in an awkward situation with their stadium. After FTX Crypto Exchange went bankrupt, something had to be done in regards to FTX Arena.

There have been rumors of buyers wanting to secure the naming rights to the Miami Heat stadium, but nothing has come about. That being said, new updates on the saga have recently been brought to the light.

Per the Miami Herald, a bankruptcy judge terminated the naming rights deal between the two parties. The Heat plan to act quickly and intend to stop using the name immeditatley. FTX owned the naming rights to the arena for roughly two years.

With this deal officially terminated, negotiations can now begin with potential new buyers for a naming rights deal.