For the first time since its doors opened over two decades ago, the home of the Miami Heat will have a new name.
Miami-Dade County commissioners approved a deal Friday that would rename the AmericanAirlines Arena to FTX Arena. It's not clear when the name change would go into effect
The 19-year, $135 million-dollar deal would put the name of a cryptocurrency exchange on the “Heat’s House” after just over 21 years with the airline giant.
FTX reportedly negotiated the deal under an agreement that the county would reserve the sponsorship money to help combat gun violence and poverty in Miami-Dade.
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.