County to vote on new naming rights deal for arena

Mar 30, 2023 - 11:12 PM

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After the cryptocurrency exchange FTX collapsed into bankruptcy in late 2022, the arena the Miami Heat played in because known only as the “Miami-Dade Arena.” We may soon have a new name for the arena — the Kaseya Center.

Miami-Dade County Mayor Daniella Levine Cava released a proposal for a $117 million naming rights deal with the software company based in Miami’s Brickell neighborhood. County commissioners will vote on the agreement April 4. The NBA hasn’t signed off on an agreement. The sponsorship deal cannot be finalized without league approval.

FTX only held naming rights on the arena for the 2021-22 season and the beginning of the 2022-23 season. From 2000 to 2021, the center was known as the AmericanAirlines Arena.

Kaseya is a privately held company with about 900 employees in Miami. The company will receive $4.6 million in subsidies from Miami-Dade county if it meets its goals to hire 3,000 more employees in Miami.

The Heat, which has lost three straight games and appears headed for the play-in tournament, could use a fresh start. We’ll see if a renamed arena provides that next season,