After a bailout last night by Uncle Sam, it seems unlikely the Mets new stadium will have a new name come April. But there are things to still consider.
If Citigroup gets bought out – for one reason or another, the new company will assume the $400 million naming obligation. So no problem. A different name will adorn the marquee.
There are two ways for the deal to fall through and again, it’s very unlikely right now.
1) Citigroup goes out of business.
2) The parts of the company gets sold off so there’s nothing but the debt obligations and bad assets lets on Citi’s books, much like what happened with WaMu. The theater at the Garden is still named the WaMu Theatre, but that will change in the future.
Posted under Citi Field
This post was written by Joe McDonald on November 24, 2008
Tags: Assets, Bailout, Citi, Citigroup, Company Naming, Debt Obligations, Marquee, Mets, Obligation, Reason, S Books, Two Ways, Uncle Sam, Wamu