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December 3, 2008
Mets: Citi Field will remain name of new ballpark
AP via Yahoo Sports, amNY, Metro, etc.
by Ronald Blum
Citi Field will remain the name of the New York Mets’ new ballpark following a government bailout the team believes will help the struggling bank survive its economic crisis.
Citigroup agreed in 2006 to pay the Mets $400 million over 20 years for naming rights to the stadium, scheduled to open next year. Two New York City councilmen said last week that the $800 million ballpark’s name should be changed to Citi/Taxpayer Field.
“The company is still an ongoing company and a vital company that is doing business around the globe,” Mets chief operating officer Jeff Wilpon said Tuesday. “The taxpayers are backstopping what’s going on in the global economy. It’s not really Citi’s fault that they’re in this problem. There are a lot of other banks in the same situation—with naming-rights deals, also.”
NoLandGrab: Sure it wasn't Citi's fault. And let's remember the taxpayers aren't just "backstopping what’s going on in the global economy" — we're backstopping the construction of local stadiums and arenas, too.
Posted by eric at December 3, 2008 6:19 AM