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.
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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.
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With this deal officially terminated, negotiations can now begin with potential new buyers for a naming rights deal.
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About the author
Kevin McCormick
Kevin McCormick is a basketball writer at Sportskeeda with over four years of experience in journalism and a bachelor's degree in Sports Management Marketing from Holy Family University.
Kevin has worked with various notable outlets throughout his career, including 97.3 ESPN, ClutchPoints, Heavy Sports, and Sports Illustrated/FanNation, before joining Sportskeeda in March 2022.
Specializing in NBA and WNBA coverage, Kevin's passion for basketball stems from his hometown team, the Philadelphia 76ers. Among his favorite players are Kevin Durant, Chet Holmgren, and Steph Curry, while his all-time favorites include Magic Johnson and Larry Bird.
Kevin holds Coach K in high regard for the large input he's had on the game helping mold players across multiple generations. Kevin believes the iconic rivalry between Larry Bird and Magic Johnson helped elevate the league to its current status.
Through his writing, Kevin provides in-depth analysis and insights into player and coach quotes. He prioritizes sourcing information from credible and reliable outlets.
Kevin enjoys reading, aiming to finish at least one book per month, and he is a big fan of music.
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