The Miami Heat’s arena is proposed to be renamed the Kaseya Center for the next 17 years, under a deal set for a vote by Miami-Dade commissioners.
Kaseya would pay just $117,370,000 for the naming rights through 2040, the terms of the deal show.
The deal is similar in value to one made by the county with FTX, before it filed for bankruptcy.
By comparison, the naming rights for the Los Angeles Lakers was reportedly valued at $700 million, in a 2021 deal with Crypto.com
Other potential bidders for the Miami-Dade naming rights included Aroma360 and iHeart Media, the Herald reported.
Kaseya is a tech company based in Brickell.
To read the full terms of the proposed deal with Kaseya and a memo explaining it, click here (pdf).
The County Commission meeting where the deal is on the agenda is scheduled for April 4.
