Comments on: Citigroup bailout another subsidy for the Mets?

By: Corporate welfare at its best « John Patrick Kreiss

Corporate welfare at its best « John Patrick Kreiss — Thu, 04 Dec 2008 09:01:53 +0000

[...] Click here to read this article: [...]

By: Sergio H

Sergio H — Mon, 01 Dec 2008 19:47:49 +0000

Citibank has a contract and it has to meet those obligations, though that’s a good point that the logo will now likely remind everyone of the bailout, so as publicity goes, it’s probably not worth the money.

Matt Cerrone at metsblog.com wants Apple to purchase the naming rights so the new stadium could be called The Apple. See his idea here: http://www.metsblog.com/2008/11/21/news- citi-field-deal-is-fine-per-mets/

If the Mets, Apple, and Citibank get together they can work out a deal that could benefit all of them. Mets would get good publicity for letting Citibank off the hook, and therein not taking any more taxpayer money. Citibank would not pay for 20 years of bad publicity, but instead could subsidize Apple’s naming rights for a million a year. And Apple would get good publicity for stepping in, and get a discount on the naming rights. Now THAT is a plan.

By: Russ

Russ — Sun, 30 Nov 2008 14:27:58 +0000

I have to agree with the previous posters … why should the taxpayer fund this type of contract. If we’ve seen anything as of late, contracts are re-negotiable or in this case can be terminated. The problem is the funding from the US Government comes with no requirements on how it is spent. Few successful investors on the planet do this.

Whether the Mets can survive or not I don’t know, but like major sports teams, they need lots of cash to pay exorbitant salaries to players.

By: Dave O

Dave O — Sat, 29 Nov 2008 18:46:18 +0000

Imagine the goodwill that the Mets would earn if they let Citigroup out of the agreement. I agree with the comment that the Mets could probably survive just fine without the $20M per year. And wouldn’t there be another corporate sponsor with $400M to burn just around the corner?

By: Emily

Emily — Thu, 27 Nov 2008 02:20:44 +0000

I never understood corporate names for stadiums anyway, since taxpayers pay for the building and maintenance of the stadium. I mean, I know it’s to make more money, but that’s pretty stupid. If there’s any team that rakes in enough money to choose any name in the world for their stadium, it’s the Mets. They get a big crowd no matter how the team is doing, so they don’t need the extra money from a corporation. And I’m sure ticket prices aren’t going to get any lower. I’ll still go to some games and call the stadium “The New Shea” no matter what happens

By: David Hollis

David Hollis — Wed, 26 Nov 2008 15:01:38 +0000

So, now all U.S. taxpayers are part owners of the Mets. Oh good.

By: peter

peter — Tue, 25 Nov 2008 18:21:31 +0000

What a disgrace!!! This “Citi” name should NOT APPEAR on that ballpark. The Taxpayers are going to revolt real soon! Why should the American citizens pay $400 million to advertise a bank on a stadium. Call it Shea Stadium and get the money back!!!!

By: Principal Zod is not to be trifled with « Ben’s Breakfast Blog

Principal Zod is not to be trifled with « Ben’s Breakfast Blog — Tue, 25 Nov 2008 16:05:24 +0000

[...] * You know that $326 billion bailout we’re giving to Citigroup? $400 million of that is going to… the New York Mets?!? [...]

By: Charles Davidson

Charles Davidson — Tue, 25 Nov 2008 07:45:58 +0000

I hope that extreme pessimism and despondency for the fate of the greenback does not prove to be the correct forecast! A previous commenter, Cindy, seems to be wishing for this event to occur: when the U.S. Dollar becomes worthless! While most U.S. citizens and other believers in the democratic institutions and ideals this nation was founded upon, remain steadfast and determined to improve each day of our lives through study, hard work, and faith that the future will be better than the past. The folks who are betting against the U.S.A. in these trying times, are most likely trying to gain advantage by attempting to panic the less established members of this great nation. Naughty-naughty-naughty !

By: taryn Simpson

taryn Simpson — Tue, 25 Nov 2008 06:20:16 +0000

ohhh cool