The NBA’s Miami Heat has a new arena name: Kaseya Center.
The name change in favor of the Miami-based software company was announced Tuesday.
The Heat calls Kaseya its official IT solutions partner. Over 900 Miamians work at the company’s headquarters, with plans to increase that number in the coming years.
Kaseya’s naming rights will cost the information technology firm $117.37 million over the course of its 17-year deal. Most of that money will go to Miami-Dade County, with the Heat netting $2 million annually for the sponsorship, according to The Associated Press.
The arena was called FTX Arena after the now-defunct cryptocurrency exchange inked a 19-year deal for the naming rights worth $135 million in 2021.
The county and Heat terminated that partnership after the exchange declared bankruptcy amid the legal travails of founder Sam Bankman-Fried.
• Brad Matthews can be reached at bmatthews@washingtontimes.com.
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