The Miami Heat’s win over the Washington Wizards on Wednesday night raised questions about the lawsuit on the court, but it did not involve the team’s players.
The N.B.A The team is affiliated with the FTX cryptocurrency exchange and plays home games at the FTX Arena, where the company’s logo wraps around the floor.
This was questioned on social media by Eagle viewers who asked why this was so.
One Twitter The user posted a screenshot of the Heat in action and commented: “Still” says “FTX Arena” in the Miami area.
There were many who wanted to talk about the matter with their own, and one answered: “FTX must be paid by the end of November at least. The contract is said to be honored, even if bankruptcy occurs in the middle of the season.”
Another agreed, tweeting: “This rental name is paid up front for a specific term. Could be sold in bankruptcy, though.”
A third is mentioned: “I believe, though they took the logo off the top of the building.”
The wheels seem to be in motion as all references to the cryptocurrency company are officially removed from the arena.
FTX filed for bankruptcy on November 11th, and on the same day Calor and the company began the process of ending relations with the company.
Miami-Dade County owns the arena and initially negotiated naming rights with FTX. He asked for immediate permission to end the deal in federal bankruptcy court on Tuesday.
The county wrote in the motion: “Debtor does not appear to be prejudiced by the termination of his covenant rights.
“On the other hand, Miami-Dade County continues to provide marquee naming rights and other benefits to the debtor, at the expense of the county’s ability to seek a new naming partner for the Arena.”
The arena is sponsored by FTX from June 2021 and the company has signed a contract of 1325 million euros.
The next payment of $5.5 million was due in January and the Tide expected to receive $2 million a year from the deal.
The FTX signage is expected to remain in the arena until mid-December, when the hearing is set.
Heat’s Udon Haslem is one of several big-name athletes who were caught up in the FTX crash.
Haslem, Tampa Bay Buccaneers quarterback Tom BradyGolden State Warriors Stephen Curry and Osaka tennis player Noomi Osaka are all named as defendants in the class action lawsuit against FTX.
They were named as their celebrity status and large social media following meant they could be considered guilty of failing to promote cryptocurrency.
When it crashed, FTX was the third largest cryptocurrency exchange but ended up with billions of dollars in losses.
Sam Bankman-Fried, founder of the company, is wanted by both state and federal authorities.
They look into allegations that Bankman-Fried invested depositors’ money in various ventures without their prior approval.
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