BTC

$95955.383

-1.20%

ETH

$3330.889

-1.86%

XRP

$2.212

-3.56%

BNB

$670.859

0.26%

News

The University Of California Berkeley Terminates Stadium Naming Deal With FTX

November 18, 2022 - Around 2 mins mins to read
The University of California Berkeley has terminated its naming rights agreement with FTX for its football stadium.
The University Of California Berkeley Terminates Stadium Naming Deal With FTX

The sponsorship agreement between FTX and the University of Berkeley’s Cal Athletics football team (California) was signed in August 2021 with a value of $17.5 million, full crypto payments, and also FTX’s first sports partnership with a university.

Accordingly, the exchange will buy back the naming rights of California Memorial Stadium and change it to FTX Field. The logo of FTX is also densely featured on the advertising spaces of the football field.

The University Of California Berkeley Terminates Stadium Naming Deal With FTX

However, earlier this week, on Twitter, there was a video showing the FTX logo being removed from the stadium.

FTX has been very tolerant of sports-related partnerships over the past two years. t

However, after the bankruptcy announcement, FTX’s promotion partners repeatedly decided to terminate the sponsorship contract, such as a $135 million Miami Heat basketball naming rights deal over the next 19 years.

As Coincu reported, e-sports company TSM has also removed the FTX logo and suspended the contract of $210 million.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

Coincu News

Berkeley

Cal Athletics

California Memorial Stadium

FTX

FTX Field

University Of California

Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.
News

The University Of California Berkeley Terminates Stadium Naming Deal With FTX

The University of California Berkeley has terminated its naming rights agreement with FTX for its football stadium.
The University Of California Berkeley Terminates Stadium Naming Deal With FTX

The sponsorship agreement between FTX and the University of Berkeley’s Cal Athletics football team (California) was signed in August 2021 with a value of $17.5 million, full crypto payments, and also FTX’s first sports partnership with a university.

Accordingly, the exchange will buy back the naming rights of California Memorial Stadium and change it to FTX Field. The logo of FTX is also densely featured on the advertising spaces of the football field.

The University Of California Berkeley Terminates Stadium Naming Deal With FTX

However, earlier this week, on Twitter, there was a video showing the FTX logo being removed from the stadium.

FTX has been very tolerant of sports-related partnerships over the past two years. t

However, after the bankruptcy announcement, FTX’s promotion partners repeatedly decided to terminate the sponsorship contract, such as a $135 million Miami Heat basketball naming rights deal over the next 19 years.

As Coincu reported, e-sports company TSM has also removed the FTX logo and suspended the contract of $210 million.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

Coincu News