Miami Heat Home To Be Called FTX Arena; Miami-Dade County Announces New Naming Rights Agreement

MIAMI (CBSMiami) - America Airlines Arena will soon be known as the FTX Arena after Miami-Dade County reached a naming-rights agreement with a cryptocurrency exchange.

The 19-year agreement will now go to the Miami-Dade County Board of County Commissioners for Board approval, during a meeting scheduled for Friday, March 26.

"We are proud to announce this great new naming rights partnership for the Arena, and look forward to bringing it before the BCC for approval," said Miami-Dade County Mayor Daniella Levine Cava.

"Ensuring that we identified the best possible deal for the County and safeguarding the public's finances were my top priorities throughout this process. This partnership, which will earn the County nearly $90 million over 19 years, will have positive impact across our community, and we are glad to find a partner in FTX ready to invest in Miami-Dade."

"The entire FTX family is thrilled to partner with Miami-Dade County and the Heat," said FTX CEO Sam Bankman-Fried. "This opportunity is more than putting our name on an iconic building. It is a chance to provide value to the growing and diverse community in Miami and its surrounding cities, as well as join a championship community, a championship organization, and a championship culture."