Miami Heat inks new naming rights deal: Who is the new sponsor?

The Miami Heat just announced that they have signed a 17-year long partnership with Kaseya, a leading global provider of unified IT management and security software for managed service providers and small to medium-sized businesses, for a total of $117 million as reported by Front Office Sports.

With the partnership secured between the Heat and Kaseya, it was also reported by The Miami Herald's Doug Hanks that other companies were considered.

Previous Miami Heat naming-rights partner

On Nov. 11, Cryptocurrency platform FTX filed for bankruptcy protection with CEO Sam Bankman-Fried stepping down from his position. Following the announcement, other associate companies such as Alameda Research, Bankman-Fried's crypto trading firm and FTX.us along with 130 other companies were included in the bankruptcy protection situation.

With a 17-year long naming-rights partnership between the Miami Heat and Kaseya, the franchise's arena will now be called the "Kaseya Center" after previously being called the "FTX Arena."