Latest Sports sponsorship News

Miami-Dade asks for right to remove FTX name from Heat arena

Nov. 22, 2022 18:47 PM EST

MIAMI (AP) — Miami-Dade County has asked a federal bankruptcy court for immediate permission to end its naming rights deal with FTX and strip that brand off the arena where the NBA's Miami Heat play. In a motion filed Tuesday, the county — which owns the arena and negotiated the...

Once forbidden, gambling now embraced by NFL

Nov. 22, 2022 17:57 PM EST

Gambling has gone from the forbidden topic in the NFL to a key part of the league's present and future. The days of lobbying against widespread legalized sports betting, preventing broadcast partners from even discussing point spreads and even prohibiting players from holding a...

FTX lawyer: 'Substantial amount' of assets has been stolen

Nov. 22, 2022 14:32 PM EST

NEW YORK (AP) — Lawyers for FTX disclosed Tuesday that a “substantial amount" of assets has been stolen from the accounts of the collapsed cryptocurrency exchange, diminishing the odds that its millions of investors will get their money back. The admission came during FTX's...

FIFA revenue hits $7.5B for current World Cup period

Nov. 20, 2022 10:03 AM EST

DOHA, Qatar (AP) — FIFA earned record revenues of $7.5 billion in the four years of commercial deals tied to the 2022 World Cup in Qatar, the governing body of soccer said Sunday. The last three sponsors — two American and one from the Middle East — were announced hours before...

Qatar bans sale of beer at World Cup stadiums in about-face

Nov. 18, 2022 12:07 PM EST

DOHA, Qatar (AP) — Qatar banned the sale of beer at World Cup stadiums on Friday, a sudden U-turn on the deal the conservative Muslim emirate made to secure the soccer tournament with only two days to go before the opening game. The move was the latest sign of the tension of...

Exec who cleaned up Enron calls FTX mess "unprecedented"

Nov. 17, 2022 10:17 AM EST

The new CEO of the collapsed cryptocurrency trading firm FTX, who oversaw Enron's bankruptcy, said he has never seen such a “complete failure” of corporate control. John Ray III, in a filing with the U.S. bankruptcy court for the district of Delaware, said there was a...

Budweiser stalls to be less prominent at World Cup stadiums

Nov. 14, 2022 16:43 PM EST

Budweiser beer stands at the eight World Cup stadiums are being moved aside to less prominent spots just days before the games start, Qatari organizers said on Monday. It’s the latest late change in World Cup planning that started more than a decade ago in the majority-Muslim...

Crypto exchange giant FTX collapses, files for bankruptcy

Nov. 11, 2022 16:46 PM EST

NEW YORK (AP) — It took less than a week for FTX to go from the third-largest cryptocurrency exchange in the world to bankruptcy court. The embattled cryptocurrency exchange, short billions of dollars, sought bankruptcy protection after the exchange experienced the crypto...

Miami Heat's home arena will get new name after FTX collapse

Nov. 11, 2022 20:18 PM EST

MIAMI (AP) — The arena where the Miami Heat play will soon have a new name, after the team and Miami-Dade County decided Friday to terminate their relationship with FTX on the same day the cryptocurrency exchange filed for bankruptcy. The building had been called FTX Arena since...

F1 team Mercedes suspends sponsorship deal with FTX

Nov. 11, 2022 13:03 PM EST

SAO PAULO (AP) — Formula One team Mercedes has suspended its sponsorship deal with FTX, one of the world’s largest crypto exchanges, after FTX filed for bankruptcy Friday. Mercedes signed a multi-year sponsorship deal with FTX in September 2021. "As a first step,...