Citigroup not planning to cancel Mets stadium deal: source

Tue Feb 3, 2009 11:02pm EST
 
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NEW YORK (Reuters) - Citigroup Inc is not planning to pull out of its $400 million marketing deal with the New York Mets baseball team, a person familiar with the matter said on Tuesday.

The 20-year deal, which includes naming rights for a stadium in New York City known as Citi Field, attracted political scrutiny after Citigroup received more than $45 billion from the U.S. government in recent months to help shore up its balance sheet amid the global financial crisis.

A report in the Wall Street Journal earlier on Tuesday said the bank was considering pulling out of its contract. But a person familiar with the matter said the bank was not planning to do so.

(Reporting by Dan Wilchins; Editing by Kim Coghill)

 
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