CitiField No More?

3 02 2009

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With the economy in the tough times it is now, troubled bank Citibank may be backing out of a $400 million deal over 20 years for naming rights to the new Mets stadium.

Citibank has been hit extremely hard in this new economic climate and some people and analysts are wondering why they are going ahead with this deal. Citifield, which is opening at the beginning of the new baseball season, is near complete with the CITIFIELD sign already dawning the top of the stadium.

What people need to understand is that this deal is over a 20 year period and could see value to it instantly. It’s like a giant billboard everytimeyou pass by the new stadium, and inside there will be CITI group materials all around. It is a good advertising ploy for them.

By: Daniel Murray

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