FTX made massive sponsorship deals with sports leagues and star athletes like Tom Brady. Here's what experts say could happen after the crypto exchange's implosion.

Samantha DelouyaNov 10, 2022, 05:42 IST

Sam Bankman-Fried, founder and CEO of crypto exchange FTX.FTX Official/YouTube

Sam Bankman-Fried's FTX poured millions of dollars into naming rights, partnerships, and sponsorships in the sports world.
With FTX's survival in question, massive deals with the likes of Tom Brady, the Miami Heat, and MLB are in jeopardy.

Sam Bankman-Fried's crypto-exchange platform FTX is facing an uncertain future.

Rival platform Binance had initially agreed to bail out FTX as the company faces a severe liquidity crisis after getting hit with $6 billion in withdrawals in just 72 hours, but Binance announced Wednesday that the deal fell through.

FTX was once worth $32 billion, as cryptocurrency prices surged in 2020 and 2021. During that time, Bankman-Fried poured millions of dollars into many high-profile sponsorships in the world of sports, including partnerships in baseball, basketball, football – and even Formula One.

Now that it is looking increasingly likely that the company may not survive its current predicament, questions loom about the future of these deals.

Here are some of FTX's most high-profile sports deals and what experts say may become of them:

One of FTX's most visible partnerships is with Miami Heat. Its home court was renamed FTX Arena in June 2021.

FTX Arena in MiamiThe Next Miami

FTX has been the "Official Cryptocurrency Exchange brand of MLB" since June 2021. All Major League Baseball umpires wear a patch with FTX's logo as part of the deal

MLB Umpires all sport FTX patchesNick Cammett/Diamond Images

In December 2021, The Golden State Warriors announced a "first-of-its-kind" cryptocurrency partnership in professional sports, naming FTX its "Official Cryptocurrency Platform and NFT Marketplace."

Golden State WarriorsMSG

In December 2021, The Golden State Warriors announced a "first-of-its-kind" cryptocurrency partnership in professional sports, naming FTX its "Official Cryptocurrency Platform and NFT Marketplace."

FTX had several celebrity endorsers, mainly from the sports world. Football star Tom Brady appeared in commercials for the platform.

Tom Brady.Getty/Cliff Welch

Stephen Curry also appeared in FTX commercials and signed a deal with the company. Here are some other celebrities who had deals with FTX:

Steph Curry in FTX commercialFTX

Naomi Osaka

Naomi Osaka wears an FTX patch at the US OpenMatthew Stockman/Getty Images

Gisele Bündchen

Gisele Bündchen for FTXFTX

Kevin O'Leary

Sam Bankman-Fried dines with Kevin O'Leary at the SALT NY ConferenceSALT NY

Shaquille O'Neal

Shaq is featured on FTX's websiteFTX

FTX didn't stop with the pros, though. The crypto company even invested in college sports. UC Berkeley signed a $17.5 million deal with FTX to sponsor its athletic department – and agreed to be paid entirely in crypto.

FTX Field at California Memorial StadiumThe California Golden Bears

FTX didn't stop with the pros, though. The crypto company even invested in college sports. UC Berkeley signed a $17.5 million deal with FTX to sponsor its athletic department – and agreed to be paid entirely in crypto.

FTX even invested in a Formula One racing team called Mercedes-AMG Petronas

Mercedes-AMG Petronas Formula One Team car with FTX logoJeffrey Greenberg/Universal Images Group

Meet Changpeng Zhao, the CEO of Binance and the richest man in crypto, who worked at a gas station before making his $30 billion fortune

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FTX made massive sponsorship deals with sports leagues and star athletes like Tom Brady. Here's what experts say could happen after the crypto exchange's implosion.

One of FTX's most visible partnerships is with Miami Heat. Its home court was renamed FTX Arena in June 2021.

FTX has been the "Official Cryptocurrency Exchange brand of MLB" since June 2021. All Major League Baseball umpires wear a patch with FTX's logo as part of the deal

In December 2021, The Golden State Warriors announced a "first-of-its-kind" cryptocurrency partnership in professional sports, naming FTX its "Official Cryptocurrency Platform and NFT Marketplace."

FTX had several celebrity endorsers, mainly from the sports world. Football star Tom Brady appeared in commercials for the platform.

Stephen Curry also appeared in FTX commercials and signed a deal with the company. Here are some other celebrities who had deals with FTX:

Naomi Osaka

Gisele Bündchen

Kevin O'Leary

Shaquille O'Neal

FTX didn't stop with the pros, though. The crypto company even invested in college sports. UC Berkeley signed a $17.5 million deal with FTX to sponsor its athletic department – and agreed to be paid entirely in crypto.

FTX even invested in a Formula One racing team called Mercedes-AMG Petronas