where to buy live rock zestoretic billig kaufen pastillas alli mexico precio side effects of alavert d trazodone cost canadian getting benzac in australia buy colospa online with mastercard generic avodart us buy citalopram online canada no prescription canada strattera tablets online nome generico moduretic Purchase paroxetine 20mg reviews on probalan shallaki supplier in uk purchase neurontin gabapentin can you take norvasc twice daily nizoral pills online in the usa buy provera brahmi limited india tretinoin 0,05 usa cvs prices generic pravachol us buy apcalis sx without a prescription from canadian pharmacy discount canadian pharmacy ponstel side effects of levaquin medication lloyds pharmacy uk tadalafil tablets 20 mg india acticin tablets price health canada clomid tetracycline best price what doses does atarax come in interactions vytorin online lotrisone ships from india cheap ciplox free delivery best price rogaine 2 diamox echeck buy nitrofurantoin boots buy deltasone online canada lisinopril fast uk luvox tablets 50mg vytorin pharmacy can order vermox canada side effects of haldol medication online apotheke cialis kaufen flagyl 400mg generico prandin without prescription canada lariam over counter maxalt-mlt 10 mg generic diabetic medicine actos how often can i take 20mg cialis purchasing actos online uk generic aspirin safe adderall effects on dopamine nitrofurantoin bid 100mg caps buying yagara using paypal actonel coupons rebates best online pharmacy for valium finpecia 50mg tablets metformin use in canada what is aspirin made of the plant what is the normal viagra dosage what is chloramphenicol used to treat drugstore buy deltasone augmentin dosage amoxicillin levothroid overnight shipping cheap flagyl er reviews and dosage compazine dose for nausea cheapest zaditor tablets uk wellbutrin sr lowest price online what does allegra d 12 hour look like decongestant zyrtec medication order what is the drug pravachol used for pyar ka dard hai written update desi tashan flomax mail order india cheap noroxin india can you get high from robaxin zyprexa lawsuit settlement tretinoin 0,05 max dose side effects of azathioprine levofloxacin side effects acai berry diet paypal metoclopramide not generic buy midamor inhaler canada number 1 sex pill for men buy lasix online overnight caverta 100 side effects best reminyl prices cialis versus viagra side effects viagra store in kolkata abilify maintena label buy medicines online australia is there a non prescription substitute for nexium do you need rx albenza plavix limited india viagra levitra and cialis ed hardy gift packs que precio tiene la pastilla cytotec en mexico donde comprar viagra en madrid how to buy alesse roxithromycin for dogs buy can u take viagra and cialis together cheapest place to get prilosec pharmacy mexico differin avandamet pas cher brand amoxil prices where to get alliance pvp mounts canada drugs ventolin with prescription doxycycline online overnight canadian best place to order brand levitra in us luvox cr generic name how to take metformin tablets can you get dilantin cheap cytotec 200 mg generic protonix picture prescription drug florinef where do i buy dutas celebrex annual sales 2011 motilium generico bula moduretic dose canadian nizagara tablet atarax medication where to buy albendazole online bestellen order cialis/viagra online Purchase propecia 1mg paxil dosage forms fast liv delivery buy chloroquine phosphate buy imitrex quick indian generics online tadalis sx acetazolamide diamox over the counter signs and symptoms of asthma in children celebrex mexico no prescription best drugstore foundation for oily skin good coverage topamax to buy in australia what is a good replacement for cymbalta lipitor drugs interact luvox generic reviews diflucan online consultation orlistat north american pharmacy formula amitriptyline where to buy how to buy prandin buy alligator videos hair hair clips finpecia comprar codeine promethazine online order minocin acne treatment nimotop for dogs buy comprar biaxin en argentina viagra uk online pharmacy generic januvia cost order lexapro 10 mg tablets generic flonase price buy medical pill buy lipitor order generic ceftin how long is cialis shelf life colchicine drugs levothroid in italia accutane cost 2013 discount code for betnovate can you buy prescription betapace mg birth control pills yasmin lawsuit cytotec for abortion side effects injection voveran dose does generic viagra work any good betnovate-n cream 30 gr yasmin alibhai-brown daily mail nolvadex store accutane uk lawsuit generic lasiks for good medrol barato bentyl ordering online pharmacy over counter meclizine same prescription meclizine synthroid 75mcg to buy without a prescription cialis jelly refill pack diclofenac gel prescribing information pyridium where to get order prinivil cheap what does maxalt feel like motilium tem generico zenegra tablets from buy friv 10000 school what is alavert d-12 buy levothroid in usa compazine dosing for nausea iv order voltaren online no prescription with a visa does water pills make you sweat buy lisinopril without prescription from a canadian pharmacy clomid false pregnancy symptoms can i make viagra risperidone availability in usa generic fucidin fluoxetine hydrochloride 40 mg side effects does isoniazid cause weight gain order yagara online uk buy canada no prescription for benzac cheapest valtrex in the uk over the counter medicine that acts as phenergan buy genuine lamictal uk the drugstore princess tumblr order free sample of viagra what is diovan mg used to treat lamisil drugstore com brand decadron for sale methotrexate spc emc que funciona mejor cialis o viagra adalat retard tablets side effects without a script cod cheap alphagan no script pharmacy reviews buy sominex singapore xenical rx generic form of topamax can i get high on neurontin phone in order for kamagra oral jelly ibuprofen alcohol stomach pain buy xenical pills online relafen 750 uses what does risperdal do for children phenergan buy online canada minocin 100 mg price keftab not generic astelin nasal spray uses curisafe cefadroxil monohydrate buy lisinopril capsules solgar hyaluronic acid 120mg 30 tablets order lariam overnight pletal and plavix together low price paroxetine uk advair diskus sales buying antivert in manchester what kind of drug is hyzaar what types of premarin are there ranitidine syrup india methotrexate tablets for psoriasis population pharmacokinetics albendazole elimite online overnight shipping cipla field call can i get pregnant on depo provera shot generic kamagra usa pharmacy can you buy zovirax over counter australia can you buy benadryl over the counter in germany cytotec medication 100 mg micronase generic for phenergan alesse pills missed nexium rx assistance phentermine 30mg buy online free coupon for fucidin azithromycin tablets 500mg ip where to buy penegra zithromax pills for sale buy cheap viagra pills lov cost chloroquine express care pharmacy in arizona zenegra ordering online pharmacy zofran cost at walmart lasix side effect in dogs safe buy terramycin online can buy domperidone prednisone tablets usp propranolol drug oversea what does cephalexin look like for dogs augmentin 1000 mg pret generic name for allopurinol aloprim costco pharmacy saw palmetto price online pharmacy uk eurax can you get a buzz off of celebrex discounts on viagra hyzaar purchase in canada no prescription buying actos online best online pharmacy generic wellbutrin sr viagra for men how it works onde comprar nootropil do you need rx clonidine nexium weight gain abilify medication online prescription for clomid cost pills cheap dapoxetine online levitra female cialis uk next day delivery non-prescription viagra buy remeron online usa prednisone dosage for adults with bronchitis biaxin 2 pills once a day buy parlodel online uk bupron sr india generic cleocin gel paypal buy atarax online uk canadian alliance of physiotherapy regulators address nimotop nimodipino tabletas 30 mg is zyprexa available in generic form colospa by mail order what is singulair for how to use nolvadex for pct decadron pediatric dose nausea isoptin online price where can i buy the morning after pill lloyds pharmacy tens machine review what is a z pack for a sinus infection stats 3657 non prescription pulmicort pharmacy what is bad about canadian health care buy combivent online amazon aciclovir buy online uk does topamax cause weight gain or loss prednisolone barato bupropion daily use reviews how to buy cialis online from canada generic for benicar hct 20/12.5 american ralista nike air max 2012 men can etodolac 400 mg get you high buy moduretic online pharmacy female viagra low dose birth control celexa doses available where can i buy domperidone online strattera review amoxil 250 mg capsule speman reviews and dosage quick delivery levitra prometrium reviews pregnancy what is erythromycin used for sore throat buy bactroban nasal ointment mupirocin cialis professional medication where to buy how long after morning after pill period purchase generic metformin glimepiride missed dose suprax australia is viagra over the counter in spain buy moduretic online amazon order cheap quality buy atacand online lopid to buy from europe betnovate 40 mg dose where to actonel free coupon for levothroid mail order medications anthem advair copd treatment discount lukol amoxil side effects uk lipitor express canada lamisil comprimate preturi citalopram withdrawal mood swings medrol where to get yasmin pill cost uk generic name for beconase aq zithromax online legally slimming tablets containing ephedrine viagra generics india how long to take ampicillin for uti buyers of phexin canada how to take provera to stop period obat blopress 16 can you really buy prescription drugs online cheap generic florinef buy artane on line chemist for orlistat bayer 20 orange intrathecal clonidine mechanism of action acheter ephedrine cafeine aspirine tenormin next day buy trileptal online thru paypals tamoxifen citrate pills buy altace online cheap buy sinequan online without a prescription acne after accutane treatment pill rx health order aceon products eurax online shipping does lipitor have a generic equivalent zyvox 60 mg tablets side effects comprare alligatore himplasia usa cvs prices nexium generico medley ringworm medication for children buy tetracycline boots pharmacy technician jobs in ireland med cab himcolin pharmacie de garde bruxelles uccle aciclovir dosage shingles order azithromycin zithromax cytoxan tablets from buy levofloxacin 500 mg price zovirax 400 mg herpes order diclofenac canadian online how to tell fake viagra mixing aricept and alcohol buy doxycycline hyclate 100mg haldol decanoato 100mg actoplus met with american express phenergan online pay paypal can you get rebound headaches from maxalt brand cialis tablets on line to buy digoxin online canadian canadian superstore online pharmacy reviews betoptic order canada buy ranitidine in usa where to buy cytotec pills in the philippines generic zithromax z pak diltiazem 100mg buy renagel usa sale kamagra gold mail order augmentin tablets what are the used can buy dipyridamole online benemid pills sweat yagara reviews order atrovent tablets ampicillin 1000mg dosage avalide billig kaufen levaquin cheap price cvs canada lotensin common side effects snovitra super power 10 mg cost does viagra work cheap tinidazole sale uk fertomid drug schedule rush limbaugh viagra thailand zolpidem tartrate buy online cheap seroflo free delivery best canadian pharmacy online no prescription zithromax sublingual dosage how to get dramamine drug insurance checklist allopurinol dose for gout tinidazole generic release date order female viagra online without rx probalan price hytrin looking for otc lansoprazole dose ordering brand cialis online dosage of diflucan for thrush tegretol new zealand triamterene comprar phone in order for allegra proventil hfa price us what is apo-citalopram 20 mg what is amantadina rogaine 2 with no rx lipitor annual sales 2009 kamagra jelly wikipedia buy lexapro paypal medicare viagra covered naprosyn sold over counter prilosec mist canada where to buy viagra in london ontario where to buy alli slimming pill effects sambazon acai reviews buy generic doxycycline online para que sirve el medicamento sertralina 50 mg synthroid or generic levothyroxine paroxetine buy uk generic for atacand plus cheap arimidex buy can we trust prilosec online resources for digoxin hoodia generic equivalent what is mentat made of kroger pharmacy prices can you order propranolol etodolac doctors online erythromycin common cold acivir pills medication order coreg wanted online review low price florinef uk hitachi lithium ion drill costco where to buy alavert ointment levitra sold in canada periactin pharmacies is ambien better than unisom buy lotensin in ireland can you buy cyklokapron drugstore rx best online pharmacy generic purinethol flagyl alcohol interaction where to buy viagra for women uk citalopram shipping overseas levitra online in uk zovirax cold sore cream prescription lariam prescription coupon norvasc schedule drug will there generic abilify buy prednisolone online australia no prescription amiloride hydrochloride dose viagra men vs. women buy lukol perth australia post cycle therapy lithium ordering silagra levitra mircette cost s and m bikes tadacip non perscription countries stopping elavil side effects tofranil pm wiki fish cycline human use ampicillin and cloxacillin tablets needed order altace without cheap genuine rosuvastatin online promethazine injection lawsuit cost of illegal drugs from mexico lowest priced cozaar how to order vytorin online how much does lamisil cost in canada atarax canadian source could order viagra online canada periactin pills online depakote to buy in the usa without a prescription what does cipro how to get high off citalopram how long does it take for singulair to work why has capoten been discontinued buy prograf online usa pastillas alli precio en farmacias albendazole over counter canada low cost actos apcalis sx jelly cialis verified by visa uk buy sominex usa accutane without a prescription remeron no prescription vantin online in us acquisto flovent sicuro online cordarone results forum can buy betnovate over counter buy tamoxifen citrate generic nolvadex canadian family tree genealogy manufacturers clozaril voltaren diovan generic version yasmin australia betnovate rd cream 0.025 w w allopurinol medication class order levitra professional on line india generic protonix safe cefixime generic cost side effects of atarax drops effexor xr withdrawal symptoms last buy canada no prescription for omnicef buy abilify mg buy flomax online pharmacy cheap zyprexa manic depression kwikmed uk review buying acai berry juice what countries can i buy viagra over the counter rheumatoid arthritis prognosis vpxl cost without insurance buy mebendazole overnight shipping best site get lotrisone lopressor dosage for afib can you get a prescription for viagra at a walk in clinic buy actonel hong kong brand arimidex coupons discounts furosemide prescription assistance buy abilify online without script pharmacy are there any natural fertility drugs cheap benicar free delivery fosamax uk next day delivery can you buy etodolac in ireland where cane i buy accutane online uk pravastatin sodium 40 mg tatev tetracycline tablets to buy buy birth control pill over the counter how to by neurontin online where to buy cheap generic emsam why does viagra not work with alcohol order drugs online no prescription buy etodolac 80 mg online cefixime tablets for purchase paxil annual sales coreg generic cost trazodone online consultation where to buy cheap generic medrol seroquel xr dose for sleep online no prescription uk for bactrim alli available online order lantus optiset discount compazine mg order alligator forceps online pharmacy actos comunicativos ejemplos synthroid medication on line fexofenadine hydrochloride 180 mg side effects buy malegra fxt overseas procardia italiano forum buy flonase online membership needed where can i buy acai berry pills in the philippines order lincocin online online pharmacy uk tricor calan sr 240 mg tablet liv pills buy revia canada topamax with american express cheapest trandate to buy flonase no prescription compare prices generic ciprofloxacin hydrochloride amitriptyline drugstore com prednisone 100 anavar pct hcg differin where to get lotrisone drug in canada pharmacy buy chloramphenicol online no prescription us what is levoxyl used to treat lexapro generic available 2011 detrol rxlist list of tesco stores selling lotensin 20mg of prednisone side effects ephedraxin tablets uk purim italiano celebrex online australia arava online legally albendazole canada drug store allegra models mexico sale retino-a cream 0,05 fast proventil deleviery beat way to order dipyridamole singulair prescription medication my oxytrol coupons date generic hyzaar genuine alligator skin wallet comprar cialis generico en andorra provera online overnight shipping brand amoxil maximum dosage order tadalis online without rx side effects of pyridium medication wellbutrin sr dosage rx list femara online buy generic for advair diskus 500 100 buy retin-a 0,05 online amazon purchase celebrex on line in india cheap glycomet sale uk ciprofloxacino para que sirve 500 mg clomiphene citrate on the menstrual cycle effects of nitrofurantoin in pregnancy buy provera with visa isoniazid dosage forms list of tesco stores selling avodart indian generics online trazodone lipitor canada prescription amaryl tablets price hoodia tablets price how long does it take to get used to paxil buy lexapro without prescription phenamax over counter uk lopid online bestellen side effects of inderal la 80 acheter pilule alli en suisse paypal acquisti viagra strong kamagra starting dose zoloft anxiety ciprofloxacino para que sirven levlen online store american voveran ventolin pills online in the uk artane credit union buy levothyroxine no prescription generic where to get acai berry juice in stores normal results for clomiphene citrate challenge test order adalat 40 mg levitra super active western australia buy zovirax cream us is it safe to order metformin can you get periactin over the counter discount code for sinemet viagra prescription online us cytotec limited india is it safe to order zaditor cytoxan billig kaufen how to get chloramphenicol in australia generic form of protonix actos drug store online arimidex generic usa buy tamoxifen canada nolvadex
Home Maury Brown Editorial: Citigroup Walking Away from Mets Naming Deal Isn't as Easy as it Seems

Like Shoot to Thrill - An AC/DC Tribute on Facebook!

An authentic tribute of AC/DC that covers the best of the Bon Scott era and the best of Brian Johnson's material

Who's Online?

We have 888 guests online

Atom RSS

Editorial: Citigroup Walking Away from Mets Naming Deal Isn't as Easy as it Seems PDF Print E-mail
User Rating: / 6
PoorBest 
Written by Maury Brown   
Wednesday, 26 November 2008 10:24
Citi Field Cartoon

 

As you may have heard, banking giant Citigroup has been hit with a round-house punch by the economy, and is getting rescued by the federal government. The company's value has dropped in half over the last week, and Citi announced that 20 percent of their workforce -- 53,00 workers, are to be laid-off.

According to a bail-out plan by the Treasury Department, Federal Reserve and FDIC, Citigroup and the Feds, a pool of approx. $306 billion in troubled assets need to be addressed, with Citi taking on approx. $29 billion and the taxpayers getting saddled with the rest. 

And, as you may have also heard, Citigroup is engaged in a long-term naming rights deal with the New York Mets for their new $600 million stadium set to open next year. The rights deal – the largest in U.S. sports history – is for $400 million at $20 million annually over 20 years.

With the two issues (Citi’s collapse and the naming rights deal with the Mets) understandably, questions arise about priorities.

The unfortunate matter is, the deal between the Mets and Citi isn’t always being viewed from every angle.

That doesn’t mean that politicians and other interests aren’t willing to jump in with both feet before considering the matter in full.

Maybe they are well meaning, but word yesterday is that two New York City Council members believe that with the bailout, the name on the Mets new stadium should be reconsidered. Staten Island Republicans Vincent Ignizio and James Oddo say the ballpark's name should be changed to Citi/Taxpayer Field.

To add to the political fodder, Rep. Elijah Cummings (D-Md.) said, in a statement Monday, "This type of spending is indefensible and unacceptable to Citigroup's new partner and largest investor: the American taxpayer."

Understandably, Mets COO Jeff Wilpon and reps from Citigroup declined comment.

I’m here to say, good for them.

First off, can we all agree that jobs are more important than a name on a stadium.  Few, if any, would dispute that. But, dissolving or restructuring the deal isn’t as easy as it seems.

Citi negotiated the deal with the Mets in 2006 when the economy was stable, and revenues for marketing were plentiful for the banking giant. With the Yankees saying that they would not offer up the naming rights for their new stadium, interest was high to get the rights for the Mets stadium, given the New York market.

The sponsorship market is a far different world now.

The Mets would certainly sue Citigroup if they attempted to back out of the deal. Trying to find a corporation to pick up the naming rights would be tough, but reaching $400 million would be a near impossible feat given the sour state of the economy.

From the Mets' perspective, why should they be punished? As the saying goes, "A deal's a deal."

Citi, ergo the taxpayers, would wind up footing the bill for a legal battle. A source close to the Mets reports that the deal with Citi allows for little wiggle room for Citi to back out.

“It’s binding. There’s little doubt that Citigroup would have difficulty walking away from the deal.”

And therein lies the problem.

In the often up-is-down world of business, Citi may be saying, “We can pay $20 million a year, and get some face time with the name Citi Field. Or, we can pay for a legal battle that we could easily lose, and wind up paying for most of the agreement anyway, without the benefits.”

This isn’t to say that there aren’t options beyond all or nothing for the rights agreement. Here’s some possible scenarios that could play out:

Citigroup merges or is purchased – There has been talk that Citi may be sold outright or that they could be part of a merger. In that case, the name could shift from Citi Field to “ Field.”

The Deal Gets Backloaded – Much like the flexible mortgage rates have caused the economic woes in the housing sector, the Mets and Citi could restructure the deal with the amount of installments lessened early on, with annual payments escalated over time.

Citi Takes the Lumps and Walks Away – A long-shot, but an option: Citi and the Feds tell the Mets that they’ll offer up a large up-front payment on the total agreement, throw in some extra for monetary damages for not fulfilling the total amount, and walk away. This type of deal would most likely come with pressure from the government.

The Feds Kill the Deal Entirely - This is the one option the Mets fear most. With so much federal money coming Citi's way, the government could simply dissolve the deal all together. What recourse the Mets would have is unknown, although suing the government might be an option.

As mentioned, the deal between Citigroup and the Mets isn’t as easy as it seems. It also isn’t as if the Mets are standing back and not worrying that their golden goose isn’t in peril. For months, sources inside the organization have said that the Mets brass have been worried about the deal unraveling.

We said last week, it may be that nothing short of a total collapse by Citigroup will derail the record naming rights deal. That was before the government said they would bail them out. It seems a near certain bet that the biggest naming rights deal in U.S. history will become the most talked about in the weeks and months ahead.


Maury Brown

Maury Brown is the Founder and President of the Business of Sports Network, which includes The Biz of Baseball, The Biz of Football, The Biz of Basketball and The Biz of Hockey. He is contributor to Baseball Prospectus, and is available as a freelance writer.

Brown's full bio is here. He looks forward to your comments via email and can be contacted through the Business of Sports Network.

Don't forget to register and log in on The Biz of Baseball site to get updates via your in-box, and see information only logged in members can see.

 
 
Banner

Poll

Should MLB Force Jeffery Loria to Sell the Marlins?