The Miami Heat are finally separating themselves from the colossal collapse that was FTX.
After briefly renaming their home venue “Miami-Dade Arena” after FTX went bankrupt, the venue will officially be renamed Kaseya Center after reaching a deal, reported the Associated Press.
FTX Arena will be renamed Kaseya Center, a Miami Heat representative noted on Tuesday. The arena agreed to a 17-year, $117.37 million deal with the county (which owns the Heat’s venue) to acquire the naming rights.
As reported by the Associated Press, the Heat will receive “$2 million annually as part of the deal.” The Miami-based software company will replace FTX, effective immediately