Apart form the financial world, the sporting world was also shaken after cryptocurrency firm FTX announced its financial failure late last week. NBA franchise Miami Heat, in particular, has been affected due to the 19-year deal they signed with the company for their stadium’s naming rights.
The $135 million deal to name Miami Heat’s home stadium “FTX Arena” has effectively exploded in their faces, but adult website Bang Bros has stepped up with an offer to come to the team’s rescue.
The Miami Heat confirmed that their relationship with FTX has been terminated in light of the company’s collapse, and they are looking for a new sponsor. In a statement, the team said: “The reports about FTX and its affiliates are extremely disappointing. Miami-Dade County and the Miami Heat are taking immediate steps to terminate our business with FTX, and we will be working together to find a new naming rights partner for the arena.”
The situation has alerted the management of the popular porn site, and they have confirmed that their offer is back on the table. Apparently, before the Miami Heat struck up a deal with FTX, Bang Bros had already offered US$10 million to name the stadium. However, the cryptocurrency firm beat them to the deal.
Now the adult website is mocking FTX, posting a tweet with a photo of the FTX Arena with “bankrupt” written across it. They also shared a photo of what the stadium would look like with the Bang Bros logo. “In light of the FTX news, our offer remains to purchase the naming rights to the FTX Arena. Miami needs The Bang Bros Center!”
The Miami Heat has not publicly responded to the offer, and it remains to be seen if they will consider naming their home stadium after a site that offers pornography. Basketball fans all over the world are having a field day at the possibility, with some more open to the idea than others.
Partnering with the volatile cryptocurrency industry has been seen as a risky move for sports teams, but the money coming in from such companies as well as online betting sites form a large part of teams’ revenue over the years. It remains to be seen if the adult website will be able to tempt the Miami Heat after the FTX collapse.