Should they change the name of Citi Field?

It’s their money, so Citi Corp., can do what it wants with it. BUT, if they are getting bailed out, it’s not their money anymore. It’s my money. And, your money.

So, given that, do you care about the naming rights issue? Should it be suspended? Should it change? What should the Mets do with they money they’ve received. Remember, the Mets have done nothing wrong here, but should they make a gesture in the name of public relations?

7 thoughts on “Should they change the name of Citi Field?

  1. Caught between a rock and a hard place. I don’t care what the name of that park is as long as the Mets win.

    Regardless of what money is going where, it doesn’t look good for them to be associated with a corp. that has laid off 50,000+ people and received $350 billion in aid.

    As long as the deal stands, the name is staying.

  2. Let’s say the Wilpon’s do the noble thing and let Citibank out of their contract. Who else is going to step in and pay them 20 mil per year in this economy? Especially after what they lost in the Madoff scandal, I don’t see how they can let Citi out of the deal.

  3. http://www.newsday.com/sports/baseball/mets/ny-sptarp066025793feb06,0,1919079.story?track=rss

    According to Treasury Department filings, 21 US companies that have received bailout money have deals to see their corporate names on stadiums & arenas around the US & Canada.

    These 21 — 20 banks/financial institutions and one automaker, GM — have received more than $188 billion in TARP money since October, according to Treasury Department documents reviewed by Newsday.

    ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

    For whatever reason — size of the deal, attention because it’s NY, etc — the Citi/Mets deal has received so much scrutiny when the deal that the Mets and Citi have is really not that unique.

    With so many other companies and franschises in the same situation, this issue should be handled consistently across the board by all who are in this situation — the Mets and Citi should not be singled out.

    Separately, $400K over 20 years is an awful lot of money, but unless the corporation goes completely out of business, wouldn’t they need to advertise their brand? Isn’t that what the $20M/year really is — advertising money? Isn’t that what all corporate sponsorships are — advertising.

    I understand that they received this money from the government, but wasn’t that money issued to help keep them in business? isn’t advertising a key component of continuing to run and stay in business?

    I just don’t get all this …. all this hoopla is just being sensationalized to keep certain politicians names in the papers ….

  4. That is exactly the point guys

    1) Wilpon is not going to just give away 20 mil a year

    2) NO ONE else is paying 20 mil a year to plaster their name someplace

    3) The taxpayer in Texas is helping to pay for this.

    I think for the above reasons this deal is sunk. It is major political news.

  5. (3) Rocksolid:
    1. The Citi deal with the Mets, while far from unique is by far the largest deal with a Stadium.
    2. Citi announcement of 50,000 layoffs was mind boggling to many giving their company more scrutiny than many other.
    3. Citi is in New York where there is more attention than say a park in Charlotte, and the Citi name is nationwide.
    4. The enormity of Citi’s payout to the Mets along with their jet publicity gives the perception of total incompetance, rightly or wrongly, and reinvigorated the talk which was calming down before the jet deal came out.
    5. Is there value in naming a Stadium? Many stadii get nicknames making their name valueless. The first name of the park in Phoenix was Bank One Ballpark. Everyone called it the Bob. The Eagles Park is Lincoln financial and its called the Linc. The Mellon arena in Pittsburgh was always called the Igloo because of its appearance. No value to the banks. What will this park be coined as; the Tarp? 6. Some banks took TARP money not because they were failing but because the Feds gave it to them to buy failing banks. PNC for example was in fine shape but got TARP money for National City. So not all TARP money is the same. PNC and other saved failures.
    (2) Steve the Original: Nobody is giving the Wilpons 400 million if this goes down. Maybe they can get some back from Madoff.
    Delcos: The publicity over the naming rights to this park has been all negative to the NY METS. They have no winning solution. If they keep the money the publicity comes back everytime something goes sour. NYMets and failure and government waste become synonymous. They look like their greed is more important than 50,000 jobs, not a good thing to be associated with. If they kill the deal they are out this money in addition to the Madoff money.

  6. Is there anyone running Citibank who can make himself a hero out of this? Like Lee Iacocca did 25 years ago with a bailout out Chrysler Motors? Right now this looks like an anvil on the Mets necks. I can understand why the Wilpons did this-$400 million is a lot of money and it is called “professional sports”.
    But a “Jackie Robinson” “Tom Seaver” or “Chelsey Sullenberger” stadium would have been 1,000% more classy

  7. Dan,

    In this economy no one better be flittering away money just to name a baseball stadium.
    When it was first announced I hated it.
    I think it should be called Mets Stadium.
    or Taxpayers’ Stadium. :-)