Naming Rights
On November 13, 2006, it was officially announced that the ballpark would be called Citi Field, named for Citigroup Inc. Citigroup will be paying $20 million a year for the naming rights to the park over the next 20 years. This made Citi Field the second major league sports venue in the area named for a corporate sponsor, (after Continental Airlines Arena (now Izod Center), but preceding Prudential Center, MetLife Stadium, Red Bull Arena and Barclays Center, officially becoming the first in New York City itself, aside from two minor league ballparks (MCU Park in Brooklyn, and Richmond County Bank Ballpark in Staten Island). The deal includes an option on both sides to extend the contract to 40 years, and is the most expensive sports-stadium naming rights agreement ever, subsequently equaled by MetLife Stadium's $400 million deal.
At the groundbreaking for Citi Field, it was announced that the main entrance, modeled on the one in Brooklyn's old Ebbets Field, will be called the Jackie Robinson Rotunda, possibly due to campaigns to forgo naming rights revenue and name the ballpark after Robinson. The Mets are spending more than $600 million for the new ballpark, which New York City and New York state are also supporting with a total of $165 million for such costs as infrastructure and site preparation. On February 24, 2008, the Mets and Citigroup unveiled the new Citi Field logo.
Read more about this topic: Citi Field
Famous quotes containing the words naming and/or rights:
“The night is itself sleep
And what goes on in it, the naming of the wind,
Our notes to each other, always repeated, always the same.”
—John Ashbery (b. 1927)
“Whilst the rights of all as persons are equal, in virtue of their access to reason, their rights in property are very unequal. One man owns his clothes, and another owns a country.”
—Ralph Waldo Emerson (1803–1882)