New arena name for Miami Heat
(CNN, KYMA/KECY) - The Miami Heat is searching for a new name for its arena after its current sponsor declared bankruptcy.
The team and Miami Dade County announced Friday an end to naming rights deal with crypto currency leader FTX.
The company's fortunes took a dramatic fall last week.
Last Monday, then CEO Sam Bankman-Fried reassured investors the company was fine.
Then resigned and the company named his replacement days later.
The heat's home was renamed FTX Arena in June of last year.
The team says it is looking forward to identifying a new naming rights partner.
