Wednesday October 4, 2023

FTX Acquisition Could Reverberate Around Sports World

  • Amid slide in digital assets, FTX announced it would be acquired by Binance.
  • FTX, like competitor, made a major push into sports over the last couple of years. 
FTX Arena
Front Office Sports Today

NBC Could Get In On College Football Playoffs

NBC is exploring broadcasting a slice of the expanded CFP in 2026.
Listen Now
October 3, 2023 | Podcast
Copy Link
Link Copied
Link Copied

FTX was mum about the potential impact of its high-profile sports deals after Tuesday’s announcement that the crypto exchange would be acquired by rival Binance Holdings. 

FTX CEO Sam Bankman-Fried disclosed the Binance acquisition amid fears a run on FTX could have threatened the exchange’s solvency. 

Bankman-Fried wrote on Twitter that “all assets will be covered,” but an FTX spokesperson declined comment when Front Office Sports asked about what the deal means to its sports partnerships. 

FTX, like competitor, made a major push into sports over the last couple of years. 

  • FTX entered into a 19-year, $135 million deal for the naming rights for Miami Heat’s home arena last year. A spokesperson for the Heat declined comment on Tuesday. 
  • It secured a 10-year, $17.5 million deal to become the naming rights sponsor for UC Berkeley’s football field in August 2021. 
  • FTX is the first MLB umpire uniform patch partner as part of a long-term deal that began in 2021. 
  • FTX also has deals with Formula 1 racing team Mercedes-AMG Petronas along with Buccaneers quarterback Tom Brady, Angels ace/slugger Shohei Ohtani and Golden State Warriors star Steph Curry.

Along with those sponsorships FTX also purchased an ad for the last Super Bowl. NBC reportedly charged $6.5 million for each 30-second spot for the broadcast. 

Copy Link
Link Copied
Link Copied

What to Read


NHL’s Chris Foster on Amplifying Content Distribution With Automation

Learn how the NHL is using WSC Sports to increase fan engagement.

How Daktronics Helps Elite Athletic Programs Secure Top Talent

How colleges are utilizing Daktronics' displays to elevate recruiting.

WBD Pursues ‘Different’ Strategy For Sports on Max

Company to place all of its live sports on new streaming tier

Colorado's Epic Victory Sets New ESPN Prime Time Viewership Record

Coach Prime Deion Sanders delivered in prime time on ESPN.
podcast thumbnail mobile
Front Office Sports Today

NBC Could Get In On College Football Playoffs


Featured Today

An advocacy group is filing an NLRB case against the Ivy League over athlete compensation.

Advocacy Group Files Federal Labor Charge Against Ivy League

It’s the latest in a flurry of NLRB cases over amateurism.
The Colorado Buffaloes played in the most-watched game of Week 5.
October 3, 2023

Colorado Ratings Bonanza Continues Despite Two Consecutive Losses

The Buffs’ least-watched game this season was still the most-watched this week.
Football analyst and PFF investor Chris Collinsworth talks to man in front of computers
October 3, 2023

Cris Collinsworth 'Lost a Lot of Sleep' Over Pro Football Focus Leadership Issues

New book details why it’s no longer a “happy place to work.”
NBC is interested in media rights to the expanded College Football Playoff.
October 2, 2023

NBC Is Interested in Expanded College Football Playoff Media Rights

NBC is one of the networks pitching the CFP, a source confirmed.


Powered By

Careers in Sports

Looking for a new job? Check out these featured listings and search for openings all over the world.
Chicago Cubs
New York
Tri Star Sports and Entertainment Group, Inc.
USA - Multiple Locations

EA Rewarded For Decision To Split With FIFA

Company sees strong uptick in pre-release sales activity
A view of the Charlotte Hornets jersey with new jersey patch sponsor Feastables.
October 2, 2023

MrBeast Lands The First Creator-Led Brand Jersey Patch

Feastables will be the Charlotte Hornets’ official jersey patch sponsor.
Liverpool players celebrate after a goal.
September 28, 2023

FSG Sells $200M Liverpool Stake To Private Equity Firm

New York-based private equity firm makes its first deal
September 28, 2023

BioSteel Bankruptcy Shows Perils of Costly Sports Partnerships

BioSteel spent heavily on partnerships deals before bankruptcy.
September 26, 2023

Panini Picks Up Legal Win, Will Still Make WWE Trading Cards

New York judge denies WWE's bid for restraining order
September 25, 2023

Hollywood Writers' Deal Would Boost Sports Networks and Agencies

Several major sports media entities, talent agencies exposed to strike's effects
September 21, 2023

TKO Makes First Big Move After WWE-UFC Merger

Investors drop TKO shares by 15% following SmackDown rights deal
Deion Sanders
September 19, 2023

Deion Sanders' Sunglass Tiff Nets Eyewear Company Nearly $4.5 Million

Sanders has Midas touch for sunglasses sponsor Blenders.