FTX Buys Cal Memorial Stadium Naming Rights For $17.5 Million

FTX buys Cal Memorial Stadium’s naming rights in its second vital branding move for $17.5 million, soon after they purchased the naming rights of the Miami Heat Arena’s as we reported in our crypto news.

The crypto derivatives exchange-FTX buys Cal Memorial Stadium from California University and with this move, the exchange aims to introduce the brand to teh stadium. The derivatives exchange owned by Sam Bankman Fried is exploring even deeper in sports and this is why it has made a 10 year deal of $17 million for the university’s stadium naming rights. The home team, the Cal Golden Bears will carry the new brand to create even more crypto awareness and as stated by Bloomberg, anytime the home team will play the game this session they will be wearing the new FTX Field Brand.

The $17 million deal for the university’s naming rights is paid in crypto and the current deal is now the latest inroad into sports sponsoring to create even more awareness for crypto. Last March, FTX.US a north American sector of the same exchange signed a naming right contract with the Miami Heat Basketball squad and because of the partnership, the home team was rebranded to the FTX arena. The organization became the formal crypto exchange of MLB which is a segment of the sponsorship contract with the anticiapted event that will remain for 5 years but in fact, all of the Major League BAseball happenings are expected to war the company’s mark on their respective uniforms.

Countless FTX executives have ties with the Cal Golden Bears like Sina Nader for example as the COO who serves as a Golden Bears Walk-on member in his undergraduate years. Tom Brady, the quarterback champion of the Super Bowl, and Gisele Bundchen his wife became partenrs of the exchange in order to encourage crypto adoption and because of this deal, Bundchen and Brady collected FTX equity stakes, each getting crypto in exchange.

According to the report, FTX breaks the funding record of crypto and they raised the funding to $900 million to take an exchange decacorn position as this company is worth more than $10 billion. The latest deal by the FTX as the Major League Baseball official sponsor prepared the way for a wider and acceptable awareness for crypto and according to Sam Bankman Fried, the new contract could evolve to include other alliances.