• Loading stock data...
Saturday, July 20, 2024
Join us this September for Tuned In Request to Attend

Cal Athletics Suspends Naming Rights Deal With FTX

  • The Bears are the latest team to end a partnership with FTX, which filed for bankruptcy on Friday.
  • The decision was a departure from Cal Berkeley’s approach just a few days ago.
Fans watch college football game inside of Berkley's California Memorial Stadium
Cal Athletics

Cal Athletics is the latest organization to sever its relationship with FTX, which filed for bankruptcy on Friday.

FTX was previously the naming rights partner for Berkeley’s football field at California Memorial Stadium. On Wednesday, however, the school suspended the 10-year, $17.5 million partnership paid in cryptocurrency, the school confirmed to Front Office Sports.

Tampa Bay Buccaneers quarterback Tom Brady exits field after game against the Atlanta Falcons

Brady, Curry, FTX Founder Named in $11B Class-Action Suit

A consortium of investors has sued the founder of FTX.
November 16, 2022

The decision is a departure from Cal’s position just a few days ago, when it said in a statement to Front Office Sports that it was “monitoring” the situation and would “determine any next steps if they become warranted.” 

In that Friday statement, the school called FTX “a great partner.”

Berkeley isn’t the only team caught up in FTX’s demise. The Miami Heat severed their $19-year, $135 million deal with the company as well. An esports company called Team SoloMid did the same — ending a 10-year, $210 million deal that was billed as the biggest esports sponsorship in history.

FTX’s woes don’t stop there, however. On Wednesday morning, a group of investors filed an $11 billion lawsuit against FTX’s founder and partners including Tom Brady.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

The Road to the Return of ‘EA Sports College Football’

This summer, the biggest development in college sports is virtual.
Jan 4, 2006; Pasadena, CA, USA: FILE PHOTO; Southern California Trojans running back Reggie Bush (5) in action against the Texas Longhorns during the 2006 Rose Bowl at the Rose Bowl. The Longhorns defeated the Trojans 41-38. Mandatory Credit: Richard Mackson-USA TODAY Network

The Most Watched College Football Games in U.S. TV History

The most-watched college football game in U.S. TV history is the 2006 Rose Bowl with 35.6 million viewers.
podcast thumbnail mobile
Front Office Sports Today

‘EA Sports College Football 25’: It’s More Than a Game

0:00

Featured Today

Jan 7, 2024; Nashville, Tennessee, USA; Jacksonville Jaguars wide receiver Calvin Ridley (0) reacts after scoring a touchdown against the Tennessee Titans during the first half at Nissan Stadium.
July 14, 2024

Without Hard-Line Bans, Pro Athletes and Personnel Will Keep Betting on Sports

Penalties often aren’t stringent or consistent enough to deter banned behavior.
Oct 2, 2021; Miami Gardens, FL, USA; NFL commissioner Roger Goddell speaks during the Don Shula Celebration of Life at Hard Rock Stadium.
July 13, 2024

The NFL Is Confident It Can Overturn the Sunday Ticket Verdict

The league may have good reason to believe it can win.
July 8, 2024

NFLPA Report Cards Have Become the ‘Talk of the Locker Room’ Across..

NFLPA report cards have become the ‘talk of the locker room.’
An artistic rendering of the new proposed Everton stadium in Liverpool.

Déjà Vu: Everton Loses Takeover Bid From U.S. Investor

The Premier League club is back on the hunt for a new owner.
July 17, 2024

Angel City FC Sale Official at Record $250 Million Valuation

Disney CEO Bob Iger and wife Willow Bay now control the club.
July 18, 2024

Caleb Williams’s Contract Requests Could Have Changed the NFL

Williams asked for several unusual clauses and tax dodges.
Sponsored

TopSpin 2K25 Brings the Legends of Tennis to Your Living Room

2K sports is reviving a classic with TopSpin 2K25.
July 2, 2024

NBA and NHL Free Agency: Billions in New Deals Despite Economic Unrest

Rising revenues and salary caps are helping fuel a run of historic contracts.
July 1, 2024

Bobby Bonilla Day: A Look at MLB’s Top Deferral Deals and Ohtani’s Pact

Well beyond Bobby Bonilla, many current and former MLB stars have their own lucrative deferrals.
June 24, 2024

Tiger’s Golf League Hits $500 Million Valuation Before First Swing

TGL will begin play in January 2025.
June 13, 2024

The ‘Big’ in Big 12 Could Soon Be Replaced With a Sponsor’s Name

Allstate is said to be in discussions about a deal with the Big 12.