According to a report, as part of this agreement, the venue, which has been known as the “American Airlines Arena” for two decades, will be renamed the “FTX Arena.” In return, Miami-Dade, which controls the naming rights for the building, will receive “an undisclosed amount of yearly payments from FTX.”
Click here to read the story at news.bitcoin.com.
Discussion Questions:
- What is sponsorship?
- What are naming rights?
- Why would an arena be willing to sell naming rights to the venue?
- Why would a company want to invest in a naming rights partnership?
- What kind of company is Crypto Exchange FTX?
- Why would they want the naming rights to the Miami Heat’s arena?
- According to this story, who controls naming rights to the arena?
- How will Miami-Date county benefit from the partnership?
- How will the Miami Heat benefit from the partnership?