FTX owes Miami-Dade County $16.5 million, to be repaid within three years

ChainCatcher news, according to Coindesk, after a joint statement was issued by Miami-Dade County in Florida and the Miami Heat announcing the termination of their business relationship with FTX, FTX is required to pay a total of $16.5 million in outstanding debts within the next three years due to a breach of the previously signed $135 million naming rights agreement for 19 years. If payment is not made within 10 business days, the county stated it has the right to charge an annual interest rate of 12% until payment is completed, with $14 million due in the first year. (source link)