FTX spent millions of dollars on sports sponsorship before going bankrupt

In the second half of 2021 alone, FTX and/or FTX US signed deals with the NBA’s Miami Heat, Major League Baseball, the Golden State Warriors, the Washington Wizards and Capitals, and esports giant TSM.

The Miami Heat deal, the most high-profile of them all, was a 19-year, $135 million contract. On Friday night, the Heat said that it would immediately end its relationship with FTX.

[Via]

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