FTX made massive sponsorship deals with sports leagues and star athletes like Tom Brady. Here's what experts say could happen after the crypto exchange's implosion.

FTX had signed a 19-year deal with the Miami basketball arena for $135 million. It was set to be called FTX Arena until 2040.

This isn't the first time a stadium had the name of a bankrupt company if FTX doesn't survive. Minute Maid Park, home of the Houston Astros, was once named Enron Field. Enron famously declared bankruptcy in 2001.

Michael Lewis, a professor of marketing at Emory University's business school, said the arena would likely be renamed if FTX does not survive or has not yet paid for the rights in full.

"At the end of the day, if the organization is gone, it's almost guaranteed that if the lawyers were doing their jobs with minimal competence, that suddenly those naming deals go back and hit the market again," he said.

The MLB called FTX its "first-ever umpire uniform patch partner" in a press release announcing the deal.

Joe Favorito, a professor of sports management at Columbia University, said those patches could disappear.

"If there's no company, the branding goes away," he said.

"The bigger concern is if you sold rights and you're anticipating revenue coming in that has not come in, then you run into a problem," he added.

While it's unclear how much FTX paid for the sponsorship, it is possible the exchange didn't pay in full upfront, said Favorito.

"If you have money that's owed to you on the books for any company, and the company goes out of business, you have to figure it out through bankruptcy court," he said.

"Can you even make it back? That's the risk you run," he added.

Tom Brady had one of the more significant deals with FTX of all its celebrity endorsers. He and his ex-wife Gisele Bündchen were not just ambassadors for the company; they were shareholders.

"It's an incredibly exciting time in the crypto-world, and Sam (Bankman-Fried) and the revolutionary FTX team continue to open my eyes to the endless possibilities," Brady said when announcing the partnership.

Brady stands to lose a significant portion of his FTX investment, if not all of it.

Lewis said Brady's reputation is not at risk of taking much of a hit if FTX folds.

"Brady has close to a bulletproof brand, and I suspect the impact will be relatively small," he said,

"If the organization is gone, these sponsorship deals tend to disappear. The bigger question becomes... can they recoup what they're owed if a company goes bankrupt?" Lewis added.

It is unclear if FTX paid UC Berkeley in full for the rights. The value of most prominent cryptocurrencies has significantly depreciated since the 10-year deal was announced last summer.

As a result of the deal, the school's California Memorial Stadium is renamed FTX Field.

"The big challenge is when you're trying to find new revenue, and you work for a team or a league. The question is, do you take the risk for a company that could be high risk, high reward, and take the chance that this can happen, or do you go back and say maybe we're not going to take the risk, and we're going to be much more conservative," Favorito said.

Lewis said Bankman-Fried's decision to embed FTX in the sports world makes sense.

"Sports are the gold standard in terms of sponsorships... There's a body of shared history and shared knowledge and it unifies people across races, religions, and political affiliations. As America has polarized and fragmented, sports is probably the last thing standing that has that kind of unifying force," he said.

FTX also invested in e-sports events like Riot Games' North American League of Legends Championship Series, and Comcast-owned e-sports tournament organizer, Nerd Street Games.