Thursday, February 5, 2009

Citigroup Park Bailout

The New York Mets are opening a new stadium this coming season (which won't be even close to as cool as the Yankees new stadium, but I digress...) A little while back, they sold the naming rights to Citigroup Bank. This was, of course, before the whole economy went into the crapper and everyone started asking the government for money. Citigroup happens to be one of those banks in trouble. If you need clarification or a simpler explanation about how they got there, then CLICK HERE.

So now we run into problem. How in the world should us Federal Tax Payers be responsible for the New York Mets naming rights of their new stadium? If Citigroup gets a bailout and then continues to pay off the $400 million it cost them for the stadium naming rights, there will be ridiculous backlash of public opinion as well as it being plain unfair (as if these companies need any more bad press.)

The main problem is that the contract that was signed is legally binding. I have a feeling the Federal Government can get around it, but that would be unfair to the Mets. One person suggested the company eat part of the payment and then sell the naming rights to another company at a discount rate. Say for $150 million?

Unfortunately, that was followed up by that person saying that no company would pay $150 million for naming rights in today's economic climate. Not only would they be crazy, but no one can come up with that kind of cash.

HOWEVER- I have a decent idea. The only steady company I can think of that could buy the naming rights would be Apple. Now, normally they are smart enough to avoid this kind of idiotic purchase, BUT imagine the possibility of naming the stadium- are you ready for it- Big Apple Park.

You name the stadium after New York City, Apple gets tons of advertising and gets their name associated with New York City, and Apple is probably the one company that could do it these days. Let's do this Apple! There's too much synergy for this not to happen. You can even put iPod vending machines in the stadium! Your logo would almost certainly become synonomous with "The Big Apple." You can thank me later with free computers and $1 million, but for now, let's get the ball rolling on this.

3 comments:

Rae said...

ahahahah BRILLIANT! and clever, not to mention hilarious ;)

Tony B. said...

Thanks! Pass it on to your man- Apple can use another good idea!

Rae said...

haha. oh yeah, you know how influential engineers at apple are when it comes to major investments for the comapny ;)

p.s. i totally sent it to him the MINUTE i read it...