ACCESS » NBA » Porn Site After FTX files for bankruptcy, Bang Bros offers the Miami Heat $10 million for the right to rename the arena.
Before FTX took over the building, the adult website Bang Bros made a $10 million offer for the name rights. After the announcement, the porn business would declare that the offer was still valid.
FTX purchased the naming rights to The Heat arena last year in a massive 19-year, $135 million contract. The Miami Heat announced that it was ending its affiliation with the cryptocurrency startup on Friday night, following the company’s bankruptcy filing. The team is now searching for a new stadium naming rights partner.
Miami-Dade County, the arena’s owner, negotiated the naming rights agreement, which was finalised with FTX in March 2021. The building’s name was changed from American Airlines Arena to FTX Arena three months later.
The 3 cryptocurrency exchange in the planet before the week began had a terrible few days, and on Friday, FTX filed for bankruptcy protection. The business’s founder and CEO, Sam Bankman-Fried, has left his position.
The reports about FTX and its affiliates are extremely disappointing, The Heat and Miami-Dade County said in a joint statement. According to a statement from the Miami-Dade County administration, the Miami Heat and Miami-Dade County are taking immediate action to end their relationship with FTX and will be working jointly to find a new franchise rights partner for the arena.
