Crypto Exchange FTX Set To Win Naming Rights For Miami Heat Arena

MIAMI, FL — Get ready to say goodbye to AmericanAirlines Arena. The home of NBA team the Miami Heat is poised to be renamed FTX Arena, after a cryptocurrency exchange.

Miami-Dade County and FTX have reached an agreement for a 19-year partnership to name FTX Arena, according to a news release from the county. The agreement now goes to the Miami-Dade County Board of County Commissioners for approval at a special meeting Friday.

Naming rights for the arena are negotiated by the county in coordination with the Miami Heat. In addition to NBA games, the iconic Biscayne Bay venue is home to concerts, performances, cultural events and more, drawing nearly two million visitors per year, the county said.

“We are proud to announce this great new naming rights partnership for the Arena and look forward to bringing it before the BCC for approval,” Miami-Dade County Mayor Daniella Levine Cava said. “Ensuring that we identified the best possible deal for the county and safeguarding the public’s finances were my top priorities throughout this process. This partnership, which will earn the County nearly $90 million over 19 years, will have positive impact across our community, and we are glad to find a partner in FTX ready to invest in Miami-Dade.”

FTX CEO Sam Bankman-Fried said, “This opportunity is more than putting our name on an iconic building. It is a chance to provide value to the growing and diverse community in Miami and its surrounding cities, as well as join a championship community, a championship organization, and a championship culture.”

Through the partnership, FTX will also collaborate with Miami-Dade County to support technology and Fintech education, financial wellness for residents and other programs, the county said. FTX also committed an additional $5 million in contributions to the Miami-Dade community beyond the scope of the naming rights partnership over the course of the deal.

The county’s naming rights consultant, The Superlative Group, led negotiations on behalf of Miami-Dade and Glushon Sports Management represented FTX in the negotiations.