While I am uninterested in having two Mets posts on the front page of PSC, it is interesting to note that the Wall Street Journal is reporting this morning that Citi Group, the financial institution that owns the naming rights to the Mets new stadium, is seriously considering pulling out of its deal with the team.
Citigroup Inc., eager to quell the controversy over how lenders are using government bailout money, is exploring the possibility of backing out of a nearly $400 million marketing deal with the New York Mets, say people familiar with the matter.
Officials at Citigroup have made no final decision about whether to try to void the 20-year agreement, which includes naming the Mets’ new baseball stadium after the bank, say these people.
I’ve said before that I cannot stomach the fact that my tax dollars may be headed to the Mets – so I am excited to hear that there are at least some Citi executives thinking about the consequences of these payments rather than box seats to see the Mets come in third this season.
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According to a report on CNBC, the Mets say Citigroup has contacted them and will continue to honor their current marketing and naming rights agreement, contrary to the Wall Street Journal report.