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#pounditWednesday, May 29, 2024

Miami Heat already have offer on table for new naming rights to arena

Pat Riley smiling

Sep 22, 2017; Miami, FL, USA; Miami Heat president Pat Riley address reporters during a press conference at AmericanAirlines Arena. Mandatory Credit: Steve Mitchell-USA TODAY Sports

The Miami Heat and Miami-Dade County are ending their naming rights deal with cryptocurrency firm FTX following their bankruptcy announcement.

“The reports about FTX and its affiliates are extremely disappointing,” the county and team said in a joint statement released on Friday. “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.”

With word that naming rights for the arena were again open for bidding, a familiar company leaped at the chance., an adult-content website based out of Miami, had previously made a $10 million offer for naming rights back in 2019. That came following word that American Airlines would not renew their deal with the Heat following the 2021-2022 season.

“We’ve officially Submitted our $10,000,000 bid for the naming rights to the Miami Heat Arena,” they said at the time. “We wish to thank American Airlines for their past support of the HEAT. We intend to change the name to the BangBros Center aka ‘The BBC'”

American Airlines had spent $42 million on a 20-year naming rights deal, while FTX had agreed to a 19-year, $135 million deal. Based on those numbers, the Bang Bros offer would only be for one or two years.

Whether or not the Bang Bros offer is legitimate, it will certainty serve them well in terms of exposure. Their previous offer stole headlines across the country and their renewed offer is bound to do the same.


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