Miami Heat’s home court known as FTX Arena is soon to be renamed. This news came in recently after the Miami Heat decided to call off their relationship with the cryptocurrency firm FTX which has gone bankrupt. They had apparently been under a 19-year $135 million agreement deal.
As reported by ESPN, Miami-Dade County Mayor Daniella Levine Cava and the Miami Heat in a joint statement said, “The reports about FTX and its affiliates are extremely disappointing. Miami-Dade County and the Miami HEAT are immediately taking action to terminate our business relationships with FTX. We will be working together to find a new naming rights partner for the arena.”
FTX had filed for Chapter 11 bankruptcy protection after the crypto prices fell cheaply recently and the company could not cover accounts as customers rushed in to withdraw their funds. The Heats were to receive $2 million per annum as part of the naming rights deal with the firm.
The Crypto firm had several marketing and sponsorship deals with other sporting giants such as the NBA teams Golden State Warriors, the Washington Wizards, and Mercedes in the Formula One racing circuit earlier. Moreover, they have tie-ups with a few top athletes such as Buccaneers quarterback Tom Brady, Warriors star guard Stephen Curry and tennis sensation Naomi Osaka. Earlier the Heat’s home ground was named American Airlines Arena from its opening in 1999 until the last season.
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Miami Heat’s Tyler Herro doubtful for the game against Charlotte Hornets
Miami star Tyler Herro’s availability for the next game is still unclear. He missed the last two NBA games because of an ankle injury and was listed as doubtful for the game against the Charlotte Hornets. They expect to evaluate him more before releasing the official injury status in the afternoon, before the game. Max Strus had replaced Herro in the starting line-up.
He also started most of the games last season and averaged 14 points in the previous two games. Herro, who was last season’s Sixth Man of the Year, is averaging 19.6 points and is the second-leading scorer behind forward Jimmy Butler.
His absence hasn’t been a significant loss for the team until now, but if he stays away from the game for many matches it can easily hinder Miami’s progress. Out of the twelve games they have played, Miami has only managed to win five of them and lost seven. They will look to pocket more wins as it can turn out to be crucial during the business end of the game.
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