JUST IN: The UC Berkeley athletic department has suspended its stadium naming rights deal with FTX, just 450 days into its 10-year deal. elitanjourno reports:
The University of California Berkeley has suspended its football stadium naming rights deal with FTX, a representative of the athletic department confirmed in a statement to CoinDesk.August 2021
for $17.5 million. It was paid entirely in cryptocurrency and was the exchange’s first partnership in college sports. With the deal, Cal's football stadium was named FTX Field at California Memorial Stadium. A UC Berkeley spokesperson declined to comment on which cryptocurrencies were a part of the deal. The end of the partnership comes on the heels of FTX’sWhile FTX logos have been removed from the sidelines of the school’s football field, the logo remains prominently on the front page of the athletic department’s website.
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