The home of the Miami Heat will temporarily be called “Miami-Dade Arena” as the search for a more permanent naming sponsor commences.
Miami-Dade County and the Heat announced the placeholder name in a joint statement two days after a federal Judge ruled the county could terminate its deal with bankrupt cryptocurrency exchange FTX.
FTX tanked in November after CEO Sam Bankman-Fried revealed he’d misappropriated up to $10 billion in investor funds. Authorities since arrested and charged him with fraud, money laundering and campaign finance violations.
The Miami-Dade Commission approved the now-defunct $135 million, 19-year naming deal with FTX in June 2021.
– Jesse Scheckner, Florida Politics