News: Citigroup Considers Ending Mets Deal
Update, 10:23 am:
According to a report on CNBC, the Mets say Citigroup has contacted them and will continue to honor their current marketing and naming rights agreement, contrary to the Wall Street Journal report from below.
Update, 8:56 am:
Michael Espo, a long-time and trusted reader of 
MetsBlog.com, just sent in the following e-mail:
“Moments ago on CNBC, Doug Kass, a noted investor and short seller, who is a member of the country club where Bernie Madoff solicited many of his investors, said, ‘scuttlebutt around town says that Fred Wilpon and Mets ownership may be forced to sell a minority interest in the team due to their exposure to the Madoff fraud.’”
Original Post, 8:38 am:
According to a report in the Wall Street Journal, “Citigroup is exploring the 
possibility of backing out of their marketing and naming rights deal with the Mets,” say people familiar with the matter.
Nevertheless, in a statement Monday, Citigroup said they would not use TARP money for the stadium deal.
Last week, U.S. House of Representatives Dennis Kucinich and Ted Poe wrote to Treasury Secretary Timothy Geithner asking him to push Citigroup to dissolve the Mets deal.
“Citigroup is now dependent on the support of the federal government for its survival as an institution,” the Journal quoted Citigroup as saying in a letter. “As such, we do not believe Citigroup ought to spend $400 million to name a stadium at the same time that they accept over $350 billion in taxpayer support and guarantees.”
Meanwhile, the Mets continue to issue the following statement, whenever asked about the situation: “The Mets are fully committed to our contract with Citi.”
…sure, the Mets are committed, but is Citigroup…
…ok, Steve Jobs, step to the plate, bring me The Big Apple…
