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Posts Tagged ‘Citi’

CitiGroup (C) to pay $400 million for naming rights to NY Mets Stadium

Posted by TopOfTheThread on November 20, 2008

This is not new news.
CitiGroup has committed $20 million per year for the next 20 years ($400 million total) to have their name on the NY Mets Stadium. (Please see Citi Field.)

Shea Stadium and Citi Field

Shea Stadium and Citi Field

At the time of the deal, it may have seemed like an expensive buy acceptable idea for the decisionmakers.

With the current environment of CitiCorp (and other banks) in potential failure (See C) and its stock down to $6.40 today (11.20.08 open), perhaps this deal should be “undone”.

If CitiCorp and the NY Mets care at all about their patrons and fans, they will each agree to cancel the deal. In this climate, it is simply the right thing to do.

(photo Thanks Bob.


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