Skip to main content

Market Overview

Leave Citi Field Alone!

Share:

The New York Times has an article that (NYSE: NYT) opines that the New York Mets should rename Citi Field in light of all the hoopla that is surrounding the team.

I don't see how the connection between renaming the ballpark and the legal mess that the Wilpons are in.

A couple of weeks ago, Fred and Jeff Wilpon, the principal owners of the Mets, announced they were going to potentially sell a portion of the team to help settle a lawsuit against them brought from the Bernie Madoff Ponzi scheme.

Sure, Citigroup (NYSE: C) was at the height of the financial crisis, but the money that Citigroup is giving to name the stadium, $20 million a year for 20 years is good money. That isn't something I would just turn away, especially now. There is no correlation between the name of the stadium and what the Wilpons are currently going through.

The author asks "Is this, some might wonder, truly good for New York?" Of course it's not good for New York, but the name of the stadium wouldn't be good for New York if it was renamed anything else. It has nothing to do with the city of New York, it's about making money for the Wilpons. They signed a deal that lasts 20 years, and this situation, nor any other that may potentially present itself in the future, has anything to do with the name of the stadium.

City Hall doesn't care about it, and neither should we. There is no connection here, and is just am excuse to further drag the Wilpons into the mud. I'm not saying the Wilpons aren't without fault in this situation, but the name of the stadium has absolutely nothing to do with it.

Mets fans do plenty of complaining, and the name of the stadium isn't one of them. Leave well enough alone.

 

Related Articles (C + NYT)

View Comments and Join the Discussion!

Posted-In: Bernie Madoff Fred Wilpon New York MetsNews Legal

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com