Though it feels healthier for a comedy sketch than actual life, the prospect of a BangBros Center is just not that far-fetched in Miami following the downfall and chapter of FTX CEO Sam Bankman-Fried’s cryptocurrency empire. On Friday, Miami-Dade County and the Miami Heat swiftly pulled out (pun meant) of their partnership with FTX, the erstwhile namesake of the downtown enviornment owned by the county.
In typical Miami vogue, the unfolding saga has grown extra absurd by the day.
On November 12, fashionable porn website BangBros introduced that it might be re-submitting a $10 million provide for the naming rights to the sector after its 2019 provide to rename it “Bang Bros Center (BBC)” did not materialize. (An organization spokesperson just lately advised New Times they hope the county “severely” reconsiders their provide in gentle of latest occasions).
Joining the rising refrain of erotic bids for the sector’s naming rights, the proprietor of Booby Trap South Florida confirmed to New Times that they too have made a proposal with Miami-Dade County to stay their identify on the sector that sits alongside Biscayne Bay.
Owner Gregg Berger wrote through Instagram DM that Booby Trap, which owns a handful of strip golf equipment throughout Miami and Pompano Beach, made a $5 million provide to rename the venue “Booby Trap Arena.”
“We are a staple in Miami,” he wrote, “and we expect the followers could be behind the concept.”
It stays to be seen whether or not the county is aroused by both provide. News of the strip membership’s bid was first reported on November 16 by the weblog SportsGossip.com.
Previously often called American Airlines Arena, the power was renamed FTX Arena in June 2021 per a 19-year, $135-million sponsorship settlement between the Bahamas-based crypto alternate firm and Miami-Dade County.
In a joint assertion launched on November 11, county mayor Daniella Levine Cava and the Miami Heat known as the information relating to FTX’s collapse “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,” the statement reads.
The naming rights contract between the county and FTX includes penalties of $16.5 million – plus the costs to remove the signage and decorations – in the event the company is unable to fulfill the contract.
The $32 billion empire known as FTX was launched in 2017 by Bankman-Fried, a 30 year old who has been called a “modern-day J.P. Morgan.” Before its collapse, the outfit had grown into the third-largest crypto alternate on the earth by quantity.