Two members of the House of Representatives are demanding that the Mets scrap their $400-million naming-rights deal with financially troubled Citigroup because of the bank's receipt of federal bailout money.This will be a never-ending PR disaster for the Mets.
Reps. Dennis Kucinich (D-Ohio) and Ted Poe (R-Texas) sent a letter to Treasury Secretary Timothy Geithner requesting he "dissolve" the contract with the Mets to name their stadium Citi Field. The Mets' home opener there is set for April 13.
In an interview yesterday, Kucinich said the financial behemoth is in no position to lay out cash to have its name on the Queens stadium. "It's just totally unacceptable that Citigroup should be able to spend $400 million in naming rights when they're the recipients of a massive federal bailout," he said.
Kucinich and Poe wrote that Citigroup's financial footing "has changed drastically" since the naming rights deal was struck in 2006. The agreement calls for Citigroup to pay $400 million over 20 years for the naming rights.
The Mets "are fully committed to our contract with Citigroup," said Jay Horowitz, the team's spokesman.
Friday, January 30, 2009
Stop the Presses: Dennis Kucinich Is Making Sense
It's not often I find myself in agreement with kooky Congressman Dennis Kucinich, but he's dead right in this case.