Another FTX NBA partnership has been suspended after the Golden State Warriors terminates their partnership with the cryptocurrency brand.
Warriors Pause FTX NBA Promotions
The Golden State Warriors have now suspended their FTX NBA partnership. According to Kendra Andrews of ESPN, the Warriors have decided that they will “pause” promoting FTX-related assets, following a similar decision that the Miami Heat franchise made just a couple of days ago. Andrews mentioned that the Warriors will make their last promotion of FTX via a Jordan Poole bobblehead, as this product was already manufactured “several months ago.”
It was just in December 2021 when the Warriors organization struck an agreement with FTX, with sources saying that the global deal is worth up to $10 million in total. The agreement required the Warriors to promote the FTX brand on their new home court Chase Center, and also through its G League affiliate Santa Cruz Warriors. At the time, Warriors president and chief operating officer Brandon Schneider said that FTX is a “market leader” that is headed toward the right decision.
However, FTX has been in a downturn for the past couple of weeks, collapsing to the point of bankruptcy in the United States of America. FTX CEO and founder Sam Bankman-Fried also stepped down from his position, with his $25 billion fortune disappearing very quickly.
The Heat franchise, along with the Miami-Dade Country, has already decided to end its partnership with FTX. The Heat’s home court, which was previously called American Airlines Arena, was changed to FTX Arena last season. But since FTX’s collapse, the Heat has removed FTX as the arena’s naming rights partner and is now looking for a new brand to partner up with.