Golden State Warriors and Miami Heat Axe FTX Deals

The Warriors’ final FTX promotion took place Monday night during their game against the Spurs

article-image

Former FTX Arena, home of the Miami Heat | Source: Shutterstock

share

The Golden State Warriors, the San Francisco-based NBA team, is pausing all FTX-related promotional deals, ESPN reported.

All in-arena promotions and advertisements for the brand have been removed from the Chase Center following FTX’s bankruptcy filings on Friday, the sports network said.

Stephen Curry, a three-time NBA champion and Warriors point guard, became a global ambassador for FTX in September 2021. He also received an equity stake in FTX Trading Limited as part of the agreement.

Then, FTX US and its NFT marketplace became the Warriors’ official cryptocurrency platform

In April 2022, the team dropped its second NFT collection — commemorating its 2022 NBA playoffs performance — on the FTX NFT marketplace. The site is offline at the time of writing.

The Warriors were the first professional sports team to launch an NFT collection when they dropped various editions of the team’s six NBA championship rings and 10 commemorative ticket stubs.

According to ESPN reports, the final FTX promotion took place Monday night at the Warriors vs. Spurs game when bobble heads of one of its players, Jordan Poole, were given out to fans.

Miami Heat’s home needs a new name

On Friday, the Miami Heat NBA team ended its naming rights deal with FTX. The deal was for $135 million over 19 years and included $2 million annual payments to the Miami Heat. The crypto exchange had taken over the rights of what was formerly known as the American Airlines Arena, in June 2021.

The team tweeted that the reports about FTX were “extremely disappointing” and referenced Miami-Dade county’s Peace and Prosperity Plan initiative that was funded by this partnership to address gun violence in the area.

Loading Tweet..

The county collected $20 million on the FTX naming rights deal, according to local reports. 

The county is searching for a new partner to name the home of the Miami Heat. All signs of FTX have been taken down from the arena’s facade at time of writing.


Don’t miss the next big story – join our free daily newsletter.

Tags

Upcoming Events

Hilton Metropole | 225 Edgware Rd, London

Mon - Wed, March 18 - 20, 2024

Crypto’s premier institutional conference returns to London in March 2024. The DAS: London Experience: Attend expert-led panel discussions and fireside chats Hear the latest developments regarding the crypto and digital asset regulatory environment directly from policymakers and experts.

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research

Top Icon.png

Research

Osmosis thrived in H2 2023 on the back of increased DeFi activity deriving from recently launched Cosmos-related projects and better market conditions. With new value accrual mechanisms for the native token, Osmosis is well-positioned to continue its strong performance in 2024.

/

article-image

Equities were mixed toward the end of Monday’s session while cryptocurrencies continued their rally

article-image

Though the opposing flow trend is likely to slow over time, industry watchers note, bitcoin fund assets could one day eclipse the $90 billion gold ETF space

article-image

Celestia had the first mover advantage. EigenDA has staked ether. What sets Avail apart?

article-image

Bitcoin moved 1% higher Monday morning in New York, Matrixport analysts say $62,000 could happen next month

article-image

It’s hard to believe right now that crypto — even with all of its flexibility and massive capabilities — could ever be like cash on the internet

article-image

Michael Saylor announced Monday morning that MicroStrategy bought 3k more bitcoin after the X account was compromised over the weekend