• Loading stock data...
Sunday, August 24, 2025
The biggest names in sports media. All in one room. Buy tickets now!
Law

Miami-Dade Wins Approval to Ditch FTX Deal for Heat’s Arena

  • The arena will be known as Miami-Dade Arena until a new naming rights sponsor is found.
  • Bankruptcy judge lifted stay that prevented Miami-Dade County from moving on from FTX.
FTX logo on Miami Heat's court
Credit: Jasen Vinlove-USA TODAY Sports

This story was updated on Jan. 13.

A federal bankruptcy judge cleared the way for FTX branding to be removed from the Miami Heat’s home arena in a Wednesday ruling.

Miami-Dade County, the arena owner, was prevented from rebranding or seeking a new sponsor for the venue since there was an automatic stay in place after FTX sought bankruptcy protection in November.

Two says after judge John T. Dorsey agreed to lift the stay at the request of Miami-Dade County attorneys, the county and Heat announced the interim name for the venue.

“Effective immediately, Miami-Dade County and the Miami Heat have agreed that, until such time as there is a new naming rights partner, to refer to the arena as Miami-Dade Arena,” the statement to Front Office Sports on Friday read. “The removal of the facility’s existing signage and the changeover of branding elements will be ongoing in the coming weeks. =

The county was about 18 months into a 19-year deal that was supposed to pay out $135 million total. Instead, the county received about $20 million, and is again looking for a new venue sponsor.

Tom Brady accepts Sports Person of the Year award in front of FTX sponsorship

Tom Brady, Shaq Among Those Hit With 2nd FTX Lawsuit

Lawyers seeking class-action status for those who lost billions.
November 21, 2022

FTX attorney Andrew Dietderich said in court on Wednesday that the new management of FTX has recovered more than $5 billion in cash and crypto assets, according to the Washington Post

On Jan. 3, FTX co-founder Sam Bankman-Fried pleaded not guilty to eight federal courts related to an alleged scheme in which he illegally funneled customer deposits to Alameda Research, an investment firm that Bankman-Fried controlled. 

“We know what Alameda did with the money,” Dietderich said per the newspaper. “It bought planes, houses, threw parties, made political donations. It made personal loans to its founders. It sponsored the FTX Arena in Miami, a Formula 1 team, the League of Legends, Coachella and many other businesses, events and personalities.”

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Miami Heat logo

Former Heat Security Guard Pleads Guilty to Stealing Team Memorabilia

Prosecutors say he stole game-worn jerseys and sold them online for millions.
WNBA

Crypto Group Says It’s Behind WNBA Dildo Epidemic

The group backs a memecoin that launched last week.

Former Heat Security Guard Indicted in $2M Memorabilia Scheme

He is accused of stealing more than 400 game-worn jerseys and other memorabilia, prosecutors say.
Jun 6, 2024; Boston, Massachusetts, USA; Shaquille O'Neal looks on before the game between the Boston Celtics and the Dallas Mavericks in game one of the 2024 NBA Finals at TD Garden.

Shaq’s $1.8M FTX Settlement May Be a Great Deal in the Long..

Tom Brady, Steph Curry, and others still face billions in potential damages.

Featured Today

The Honey Deuce Effect: How Tennis Perfected the Signature Cocktail

Sold every 1.5 seconds, they total more than $12 million in sales.
Dec 21, 2024; Austin, Texas, USA; Texas Longhorns quarterback Arch Manning (16) warms up as the Texas Longhorns prepare to play the Clemson Tigers in the first round of the College Football Playoffs at Darrell K Royal Texas Memorial Stadium.
August 23, 2025

Schools Are Hesitant to Allow PE Into Their Athletic Departments

Regardless of budget, schools don’t believe the risk is worth the reward.
Oct 2, 2024; Rosemont, IL, USA; Big Ten commissioner Tony Petitti speaks with the media during the 2024 Big Ten Women’s Basketball media day at Donald E. Stephens Convention Center.
August 22, 2025

‘Not Ready to Jump In’: Power 4 Commissioners Aren’t Sold on PE

Top leaders in college sports have yet to see a satisfactory proposal.
Nov 23, 2024; Minneapolis, Minnesota, USA; Penn State Nittany Lions head coach James Franklin looks at quarterback Drew Allar (15) during the first quarter against the Minnesota Golden Gophers at Huntington Bank Stadium.
August 22, 2025

Private Equity Enters College Sports—Without the Equity

As college football starts, lending agreements have become PE’s best way in.
Jun 11, 2025; Eugene, OR, USA;A NCAA logo flag at the NCAA Track and Field Championships at Hayward Field.

Transgender Runner Sues Swarthmore, NCAA Over Ban

The suit says state and federal law supercede the NCAA’s transgender policy.
Feb 14, 2025; Oakland, California, USA; Denver Nuggets mascot Rocky the Mountain Lion gestures in front of Terrell Owens (81) of Team Rice during the celebrity game ahead of the 2025 NBA All Star Game at Oakland Arena.
August 14, 2025

Former Nuggets Mascot Sues Team for Wrongful Termination

Drake Solomon says he returned from hip surgery to a “hostile work environment.”
Jan 13, 2025; Glendale, AZ, USA; Minnesota Vikings defensive coordinator Brian Flores against the Los Angeles Rams during an NFC wild card game at State Farm Stadium.
August 14, 2025

Brian Flores Discrimination Suit Against NFL Can Go to Trial, Court Says

An appeals court ruled the NFL cannot compel Flores into arbitration.
Sponsored

Building A Pro League From Scratch

Front Office Sports and Gainbridge® spotlight what it takes to build a professional women’s soccer league.
Jan 11, 2025; Baltimore, Maryland, USA; Baltimore Ravens quarterback Lamar Jackson (8) passes the ball against the Pittsburgh Steelers in an AFC wild card game at M&T Bank Stadium.
August 13, 2025

Lamar Jackson Drops No. 8 Fight Against Troy Aikman

He filed a complaint with the USPTO in July 2024 against Aikman.
Shohei Ohtani
August 12, 2025

Shohei Ohtani, Agent Accused of Tanking $240 Million Hawaii Real Estate Deal

Ohtani had agreed to promote a luxury housing project.
Jon Gruden
August 11, 2025

Jon Gruden Wins Fight With NFL Over Email Leak Arbitration

Gruden wants his fight against the NFL to play out in court.
Skechers store opening in April at Cross Pointe Centre on Morganton Road.
August 11, 2025

Shareholder Drops Lawsuit Over $9.4B Skechers Go-Private Deal

The judge recently rejected the shareholder’s request for “immediate action.”