The Miami-Dade Arena is no more as the search for a new name is over. After the FTX debacle, the Miami Heat have finally reached an agreement on naming rights. In response, Miami-Dade County Mayor Daniella Levine Cava has shared her thoughts on the newly-named Kaseya Arena.
Kaseya is a Brickell based software company that is paying $117 million over 17 years in order for the naming right. According to Mayor Cava, "this marks the first time in the Arena's history that a locally based company has secured the naming rights, and we could not be prouder to have Kaseya as our partner."
A majority of the money will go to the county, and the Miami Heat will receive $2 million annually.
I’m thrilled that the home of our @MiamiHEAT will now be known as the Kaseya Center!
This partnership will fund our successful public safety programs and strengthen our brand as a global, future-ready community.
I’m grateful to the @MiamiDadeBCC for their unanimous support. pic.twitter.com/eZnB3lXVbf
— Daniella Levine Cava (@MayorDaniella) April 4, 2023
In a statement, Mayor Cava explained that "since relocating their headquarters to Miami-Dade County, Kaseya has demonstrated a real commitment to invest in our local economy and talent by opening the door to the jobs of the future - committing to add over 3,000 new, full-time jobs to our economy."
She went on to explain that "this deal will not only allow us to continue investing in the types of critical crime prevention programs that have made us one of the safest communities in the nation, it will also strengthen our brand as a global, diverse, and future-ready community."
"We are excited to take this significant step forward with Kaseya, and I am grateful to Commissioner Keon Hardemon who sponsored this critical legislation and to the Miami-Dade Board of County Commissioners for unanimously approving this deal," Cava concluded.
The agreement concludes a five month journey between the Miami Heat and the county to move past the FTX brand. After the cryptocurrency exchange collapsed and filed for bankruptcy, legal proceedings ensued, and the Arena was looking to move past the legal woes.
Kaseya claims 48,000 customers spanning 25 countries, and it also has 4,500 employees.
