zdk

0Joined Nov 2022

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1

But I am not convinced the stadium authority, for instance, could ethically retain the unearned portion of the contract monies as long as it carried through on its commitment to use the FTX name for the next decade.

That's not really how naming rights deals are structured. IANAL, but the sponsor doesn't pay all the money upfront, but a yearly tranche of money over the terms of a deal (typically 10- 20 years). I doubt Miami will keep collecting now, but I suppose it depends on the contract whether they'll be owed anything in bankruptcy.