MIAMI –As expected, the Miami Heat’s new long-term partnership with FTX has received final approval from the NBA.
It’s a done deal. As of the NBA 2021-22 season, the American Airlines Arena will be called FTX Arena.
“The NBA has approved the deal,” FTX CEO Sam Bankman-Fried said. “They are a great team with a great history and so I think that also seemed to us to be a very good person.
While working from his office in Hong Kong at 9 p.m., Bankman-Fried spoke to Local 10 News.
“One of the things that excites me here is having the opportunity to present something new to a lot of people,” he said.
Two weeks ago, the Miami-Dade County Commission approved the $ 135 million deal for the next 19 years.
$ 90 million goes to county coffers. The funding, they said, will be used to fight gun violence and poverty.
“Giving is really important to me and to the company,” Bankman-Fried said.
Many Heat fans and South Florida residents may be wondering what the FTX company is?
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“It’s a crypto currency exchange,” Bankman-Fried said.
For those wondering, here’s how he describes cryptocurrency.
“It’s a new type of currency that is natively digital.”
As for Bankman-Fried, he’s a 29-year-old CEO who is said to be worth billions.
“I watch too many sports for my own good,” he said.
Baseball, basketball, and soccer, so it’s fair to say that being interested in the arena in downtown Miami has a personal connection.
“At the end of the day, it’s not my passion for the sport that matters,” Bankman-Fried said. “It’s what we can do for the company, the county, the team and the partnership that matters.”
It shouldn’t be long for Bankman-Fried to travel to South Florida and watch a Miami Heat game inside the building bearing his company’s name, either.
“As soon as everything is deployed, I will be absolutely there,” he said.
Learn more about Sam Bankman-Fried, CEO of FTX, in the tweets below:
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The NBA has yet to approve the $ 135 million deal between Miami-Dade and FTX to rename the home of the Miami Heat
New naming rights deal for Miami Heat Arena gives county $ 5 million annual raise over old deal
Check out FTX: Miami Heat arena set to finalize new name
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