FTX’s Collapse Should Remind Sports Teams to Be Careful When Choosing Their Sponsorship Partners

By Alexander Chester, of Duane Morris The dramatic collapse last fall of the cryptocurrency exchange FTX will also affect those teams, arenas and other sports companies that have naming rights and sponsorship agreements with FTX. When a sponsorship partner undergoes a dramatic collapse like that suffered by FTX last week, sports teams that have partnered with the company for naming rights and other sponsorship agreements suffer losses on multiple fronts. First, of course, is the loss of th