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Sports and Recession

By Ishita Singh (with research by George Milkov)

Friday, February 13, 2009

When the government awarded Citigroup $45 billion in bailout money, a sponsorship name that had been settled upon years ago became—all of the sudden—embroiled in controversy. The New York Mets granted Citigroup the naming rights to its new stadium back in 2006. But since Citi's economic meltdown, and the subsequent government handout, the $20 million naming rates have essentially been transfered to tax payers. The move has some in Congress calling for a name change. But the glob ...

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