{"id":514564,"date":"2022-11-23T10:41:39","date_gmt":"2022-11-23T07:41:39","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/miami-dade-asks-for-right-to-remove-ftx-name-from-heat-arena\/"},"modified":"2022-11-23T10:41:39","modified_gmt":"2022-11-23T07:41:39","slug":"miami-dade-asks-for-right-to-remove-ftx-name-from-heat-arena","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/miami-dade-asks-for-right-to-remove-ftx-name-from-heat-arena\/","title":{"rendered":"#Miami-Dade asks for right to remove FTX name from Heat arena"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a23d4838bec0\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a23d4838bec0\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/miami-dade-asks-for-right-to-remove-ftx-name-from-heat-arena\/#%E2%80%9CMiami-Dade_asks_for_right_to_remove_FTX_name_from_Heat_arena%E2%80%9D\" >&#8220;Miami-Dade asks for right to remove FTX name from Heat arena&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CMiami-Dade_asks_for_right_to_remove_FTX_name_from_Heat_arena%E2%80%9D\"><\/span>&#8220;Miami-Dade asks for right to remove FTX name from Heat arena&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n        <\/aside>\n<p>Miami-Dade County has asked a federal bankruptcy court for im<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>te permission to end its naming rights deal with FTX and s<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/trip-and-travel\/\" data-internallinksmanager029f6b8e52c=\"10\" title=\"Trip &amp; Travel\" target=\"_blank\" rel=\"noopener\">trip<\/a> that brand off the arena where the NBA\u2019s Miami Heat play.<\/p>\n<p>In a motion filed Tuesday, the county \u2014 which owns the arena and negotiated the naming rights deal with FTX \u2014 said continuing to refer to the building as FTX Arena will only add to the \u201cenduring hardships\u201d brought on by the collapse of the cryptocurrency exchange.<\/p>\n<p>\u201cIt does not <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ear that the Debtor will suffer harm from a termination of the Naming Rights Agreement,\u201d the county wrote in its motion. \u201cOn the other hand, Miami-Dade County continues to supply valuable marquee naming rights and other benefits to the Debtor, to the detriment of the County\u2019s ability to seek a new naming partner for the Arena.\u201d<\/p>\n<p>A hearing is set for mid-December. For now, FTX signage remains on the building and its name has not been changed.<\/p>\n<p>Tuesday\u2019s motion was hardly unexpected. FTX filed for bankruptcy on Nov. 11, and the county and the Heat began the process of terminating their relationship with the company that same day.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/ftx-1-1.jpg?w=1024\" alt=\"FTX Arena\" class=\"wp-image-24759586\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/ftx-1-1.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/ftx-1-1.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/ftx-1-1.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Miami-Dade and FTX had just begun a 19-year, $135 million sponsorship agreement.<\/figcaption><figcaption><span class=\"credit\">Getty Images<\/span><\/figcaption><\/figure>\n<p>The FTX collapse has no shortage of ties to the sports world. A number of athletes \u2014 Tampa Bay Buccaneers quarterback Tom Brady, Golden State Warriors guard Stephen Curry, tennis player Naomi Osaka and Heat forward Udonis Haslem among them \u2014\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/apnews.com\/article\/entertainment-technology-sports-celebrity-business-24690dec0c1541a911f4d201e568ebee\">were named as defendants last week<\/a>\u00a0in a class-action lawsuit against FTX. The suit argues that their celebrity status made them culpable for promoting the firm\u2019s failed business model.<\/p>\n<p>FTX entered into a number of other sports-related deals, including with Mercedes for Formula One racing and a sponsorship deal with Major League Baseball \u2014 whose umpires wore the company\u2019s logo this past season. Mercedes has already taken the FTX logo off its race cars.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"683\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/AFP_32NG46R-1.jpg?w=1024\" alt=\"Samuel Bankman-Fried, founder and CEO of FTX, testifies during a Senate Committee on Agriculture, Nutrition and Forestry hearing about &quot;Examining Digital Assets: Risks, Regulation, and Innovation,&quot; on Capitol Hill in Washington, DC on Feb. 9, 2022.\" class=\"wp-image-24759588\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/AFP_32NG46R-1.jpg?quality=75&amp;strip=all&amp;w=2048 2048w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/AFP_32NG46R-1.jpg?quality=75&amp;strip=all&amp;w=1536 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/AFP_32NG46R-1.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/AFP_32NG46R-1.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Sam Bankman-Fried is under investigation for his handling of depositors\u2019 funds.<\/figcaption><figcaption><span class=\"credit\">AFP via Getty Images<\/span><\/figcaption><\/figure>\n<p>The building in Miami had been called FTX Arena since June 2021, and a 19-year, $135 million sponsorship agreement between FTX and the county was just getting started. FTX\u2019s next payment due to the county is $5.5 million on Jan. 1.<\/p>\n<p>The Heat were to receive $2 million annually as part of the deal.<\/p>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/apnews.com\/article\/cryptocurrency-technology-business-financial-crisis-a729281a5ef02a03ab3fcd95e152c2a8\">FTX was the third-largest cryptocurrency exchange,<\/a>\u00a0though it ended up with billions of dollars worth of losses before seeking bankruptcy protection. The Bahamas-based company and its founder, Sam Bankman-Fried, are under investigation by state and federal authorities for allegedly investing depositors\u2019 funds in ventures without their approval.\n                        <\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2022\/11\/23\/miami-dade-asks-for-right-to-remove-ftx-name-from-heat-arena\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Miami-Dade asks for right to remove FTX name from Heat arena&#8221; Miami-Dade County has asked a federal bankruptcy court for immediate permission to end its naming rights deal with FTX and strip that brand off the arena where the NBA\u2019s Miami Heat play. In a motion filed Tuesday, the county \u2014 which owns the arena&#8230;<\/p>\n","protected":false},"author":1,"featured_media":514565,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/newspress-collage-24759486-1669187781291.jpg?quality=75&strip=all&1669170086&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[135234,136078,70954,71058,83074],"class_list":["post-514564","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-ftx","tag-11-23-22","tag-miami","tag-miami-heat","tag-stadiums"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/514564","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=514564"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/514564\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/514565"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=514564"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=514564"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=514564"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}