MIAMI, FL – APRIL 23: Bismack Biyombo #0 of the Charlotte Bobcats looks on during Game Two of the Eastern Conference Quarterfinals of the 2014 NBA Playoffs against the Miami Heat at AmericanAirlines Arena on April 23, 2014 in Miami, Florida. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and/or using this photograph, user is consenting to the terms and conditions of the Getty Images License Agreement. Mandatory copyright notice: (Photo by Mike Ehrmann/Getty Images)
Miami-Dade County has worked out a deal to rename the AmericanAirlines Arena.
Under the 19-year, $135 million-dollar deal, the home to the Miami Heat will be renamed FTX Arena, after a cryptocurrency exchange.
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County commissioners are expected to vote on the deal Friday.
The Miami Herald reported FTX negotiated the deal under an agreement that the county would reserve the sponsorship money to help combat gun violence and poverty in Miami-Dade.
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The arena, which opened on New Year's Eve 1999, has always been named after the airline giant and has hosted games in five of the Heat's six NBA Finals appearances.
American Airlines announced in 2019 it would not renew naming rights to the arena, but the name has remained past the expiration of the last contract while another sponsor was found.
