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Do the right thing about Citi Field Fred Wilpon

By Frank Barone- Metsmix writer

Citigroup agreed in 2006 to pay the Mets $400 million over 20 years to have the new Mets stadium to be named Citi Field. In what could be a first in the history of sports stadiums naming rights- the new stadium’s name could be changed before it ever opens for its first regular season Mets game April 13.

There is growing indignation at allowing Citigroup to reap the benefits of a taxpayer bailout (I mean federal government bailout), and use a portion of their available resources to pay for an unnecessarily expense- mainly naming rights to a sports stadium.

This week two House members got into this issue by asking the Treasury Secretary Tim Geithner to intervene and force Citigroup to get out of that naming rights contract. Government intervention is probably the only way this deal gets reversed. The question becomes how much regulation and interference with the free market and laws do we want the federal government to take.

With the economy right now any reworking of the deal would certainly result is a lesser value in total and per year for the Mets. Some times though you have to do what is right morally and take a hit for the good of the country. So Fred Wilpon lets rework this deal with Citigroup and get some positive publicity for you and the whole Mets organization.

One thing is for sure- I would avoid Fred Wilpon’s financial advisors. The combination of him losing millions that were invested with Bernie Madoff and going partners with a banking organization with questionable finances is not exactly the way to retire comfortably. Fred Wilpon maybe you should concentrate on purely baseball decisions with financial matters, like bringing in Orlando Hudson to play second base and Manny Ramirez to play left field for the 2009 New York Mets.

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