Mets In Need of New Stadium Name?
What’s in a name? In the case of the New York Mets, $400 million over the next decade – and political considerations that could nix their Cadillac naming rights pact with Citigroup.
Conflicting press reports surfaced today indicating that Citigroup was trying to back out of its deal in light of the $45 billion in bailout money and $300 billion in federal loan guarantees it’s receiving. The report about Citigroup’s recant cites a corporate source who insists none of the Trouble Asset Relief Program (TARP) bucks would be spent for Citi Field rights. But another press report quotes a Mets suit saying the deal’s still on.
Citigroup apparently got nervous when two Congressmen made some noise last week about the apparent disconnect between the company’s flagging finances and its plans to fly its corporate flag in the new Flushing Meadow ballpark.
Two Staten Island city councilmen have suggested the Mets’ new digs should be dubbed Citi/Taxpayer Field – considering the $481 million the city governement is kicking in for the Mets and Yankees new fields. But if Citigroup does bug out, it’ll leave a bigger hole in the Mets’ plans than they may have in their starting rotation.
Maybe the Mets should just hold a naming rights contest, with all the contestants kicking in a hundred bucks or so to play. What’s your suggestion? The Big Boondoggle? Or maybe Faux Ebbetts Field – at least acknowledging the facade the Mets are recreating. And whatever they call it, the team on the field will also be pale impersonation of what the Brooklyn Dodgers were.
