• Loading stock data...
Monday, July 22, 2024
Join us this September for Tuned In Request to Attend

You’re Out! MLB Umps Drop FTX Patches

  • In November, the league terminated its five-year sponsorship deal with FTX.
  • The cryptocurrency exchange filed for Chapter 11 bankruptcy that month.
Ron Chenoy-USA TODAY Sports

Major League Baseball is the latest entity separating itself from embattled cryptocurrency exchange FTX. 

The first major sports league to secure a deal with a crypto exchange will no longer have its umpires wear an FTX patch on their uniforms after securing a pact with FTX.US last year. 

The decision comes after FTX — along with more than 130 affiliated companies — filed for Chapter 11 bankruptcy.

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
  • In January, FTX raised $400 million, valuing the company at $32 billion
  • Its deal with MLB made FTX the league’s first-ever umpire uniform patch partner. 
  • FTX branding was displayed across telecasts, MLB.com, and social media.
  • The MLPA also had a deal with FTX, which allowed players to participate in promotions. 

FTX’s bankruptcy caused the Miami Heat and Miami-Dade County to terminate a 19-year, $135 million arena naming rights deal.

The Mercedes-AMG Petronas Formula 1 team also suspended its sponsorship pact with the exchange.

Historic Deal Lost

Esports organization Team SoloMid severed ties with FTX in November. TSM — the most valuable esports company in 2022 at $540 million — was in the second year of a 10-year naming rights deal worth $210 million, the most lucrative sponsorship deal in esports history.

Copy Link
Link Copied
Link Copied

What to Read

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.

A’s Stadium Site Demolition Begins, but Many Questions Remain

Questions remain regarding each of the three main components of the ballpark financing.

St. Pete Approves $1.3 Billion Rays Stadium, Ending Relocation Rumors

St. Petersburg’s city council formally approves the MLB club’s $1.3 billion stadium plan.

MLB Attendance and Ratings on the Rise at Midway Point

MLB will enter the season’s second half with gains in attendance and national TV viewership.
podcast thumbnail mobile
Front Office Sports Today

WNBA ASG, Paris Olympics Continue Rise of Women’s Basketball


Featured Today

July 20, 2024

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

This summer, the biggest development in college sports is virtual.
Apr 15, 2024; Brooklyn, NY, USA; Caitlin Clark poses with WNBA commissioner Cathy Engelbert after being selected with the number one overall pick to the Indiana Fever during the 2024 WNBA Draft at the Brooklyn Academy of Music.
July 16, 2024

Women’s Sports Merch Is a $4 Billion Market, but Supply Isn’t Meeting Demand

Retailers can’t make women’s sports apparel fast enough.
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.

Caleb Williams’s Contract Requests Could Have Changed the NFL

Williams asked for several unusual clauses and tax dodges.
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 17, 2024

Angel City FC Sale Official at Record $250 Million Valuation

Disney CEO Bob Iger and wife Willow Bay now control the club.

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

2K sports is reviving a classic with TopSpin 2K25.
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.
June 13, 2024

Everything You Need to Know About the Schism Rocking Competitive Eating

The business story about hot dogs that you never knew you needed.