The Miami Heat have told FTX to GTFO.
Via Brian Windhorst of ESPN.com, the bankrupt (as of Friday) crypto firm no longer will have its name on the arena where the NBA team plays.
It was a 19-year, $135 million deal. FTX initially paid $14 million. Another $5.5 million was due in January.
“The reports about FTX and its affiliates are extremely disappointing,” the Heat and Miami-Dade County said in a joint statement. “Miami-Dade County and the Miami HEAT are immediately taking action to terminate our business relationships with FTX. We will be working together to find a new naming rights partner for the arena.”
The name will remain in place for Saturday’s game against the Charlotte Hornets. Soon thereafter, FTX signage will begin to come down.
As football goes, FTX had its highest profile deal with Buccaneers quarterback Tom Brady. He hasn’t addressed the situation on social media, and he wasn’t asked about it by reporters during a Friday press conference.
