The crypto world has shaken to its core in recent times, especially after popular exchange FTX filed for bankruptcy. This comes after a week of certainty, which led to historical losses and the end of a relationship with the Miami Heat. The company had signed a $135 Million deal to rename the stadium as FTX arena. But before this deal went through, the Heat were offered a much smaller deal by an adult entertainment company.

The Heat’s arena was initially called the American Airlines arena and they had a contract since the stadium’s inception. After their deal expired in 2021, a popular cryptocurrency exchange named FTX came into the picture and they signed a huge deal with the Heat. They reportedly signed a 19-year deal which would have been worth $135 Million.

However, FTX wasn’t the only company that had placed a bid for the arena.

Adult entertainment company wanted to name the Miami Heat stadium the BBC

When the Heat’s stadium naming right was up for grabs, there was a company that wanted to be a part of it. It was none other than, Bang Bros, an adult entertainment company. They reportedly had allocated $10 Million to bid for the naming rights of the stadium.

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Many had thought that this was a joke and a publicity stunt, but the company defied expectations. They took to their social media to announce that they had formally placed a bid. The company reportedly wanted to rename the stadium the BBC, an abbreviation for the Bang Bros Center.

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However, the Heat went in a different direction and signed with FTX for a whopping $135 Million. But this deal came crashing down within a year, as FTX and it’s subsidiaries went bankrupt after a huge loss.

The Miami Heat and Miami-Dade County issued a statement announcing an end of their ties. It read, ” The reports about FTX and its affiliates are extremely disappointing. Miami-Dade County and the Miami HEAT are immediately taking action to terminate our business relationships with FTX, and we will be working together to find a new naming rights partner for the arena,”

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This week marks the end of one of the shortest stadium deals in NBA history. The Heat’s arena will be up for grabs again and many companies will be raring to go again.