In August 2021, the Cal Golden Bears signed a 10-year, $17.5 million naming rights deal with FTX. The equity stake was not disclosed, but FTX said they would receive an unspecified amount and type of crypto. Curry, Brady, Bündchen Signed Dealsīasketball star Stephen Curry also signed a partnership with FTX in September 2021, which was his first investment in the crypto industry.Ĭurry, who plans for the Golden State Warriors, tweeted about the deal, stating "Just getting started in the crypto game.y'all got any advice?'Ĭurry’s foundation, ., also partnered with the exchange on charitable initiatives.įootball superstar Tom Brady and model Gisele Bündchen also have an equity stake in FTX and served as for FTX. Formula One has cancelled future races in Russia because of its invasion of Ukraine. ![]() Part of the FTX branding was unveiled during the last Russian Grand Prix. The partnership allowed FTX to feature its logo both the Formula One cars and the drivers' racing suits and attire. The partnership included motorsport fans being able to trade crypto through the FTX app, buy sell and create NFTs using the FTX NFT marketplace and pay for daily purchases with crypto through FTX Pay. ![]() However it has been badly hit by the events of the past 24 hours.įTX also got involved in the world of auto racing by serving as the first cryptocurrency exchange partner of the Mercedes-AMG Petronas Formula One Team. 7, according to Bloomberg Billionaires Index. Bankman-Fried's net worth was $15.6 billion as of Nov. “He’s obviously one of the most electric players in all of sports right now,” Bankman-Fried, whose net worth was valued at $26.5 billion by Forbes in November 2021, told CNN. Ohtani's compensation was paid by an undisclosed ammout of equity in FTX and in cryptocurrency. He received a stake in the company in return, the founder told CNN. He was chosen as FTX's global ambassador last November. Ohtani Received Stake in FTXīankman-Fried's sponsorship of major sports teams and athletes includes Los Angeles Angels Shohei Ohtani, a double threat superstar as a pitcher and a hitter. In June 2021, MLB, which includes the 30 baseball teams in the U.S., chose FTX as its official cryptocurrency exchange brand in a five-year deal. Major League Baseball PartnershipįTX, which was founded in 2019 by Sam Bankman-Fried, invested and partnered with various sports teams, including Major League Baseball (MLB), only two years later, spending millions of dollars. Lakers, another NBA team.īoth deals were concluded before the crypto winter, the bear market in virtual currencies that wiped out billions of dollars in valuation. ![]() It had been named the American Airlines Arena since 1999 after it opened.Ĭ agreed in 2021 to a 20-year deal to commit $700 million to rename the former Staples Center, home of the L.A. In 2021, FTX agreed to a 19-year deal to pay $135 million to change the name of the home of the NBA's Miami Heat to FTX Arena. Many of those those deals involving naming rights appear to be cursed and the companies who spent hundreds of millions of dollars wind up filing for bankruptcy protection later on. Investors have often been wary of companies purchasing naming rights to stadiums because of the large investment. 8, leaves the future of those partnerships up in the air. The abrupt downfall and the pending acquisition of FTX, a popular cryptocurrency exchange, by Binance on Nov. (TheStreet) - Sports teams welcomed the multi-million dollar partnerships in 2021 from cryptocurrency companies like FTX, an exchange to trade digital assets.
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