This morning The Wall Street Journal reported that Citigroup is considering backing out of their marketing and naming rights agreement with the New York Mets. However in a later report on CNBC this morning, the organization has stated that Citigroup has contacted them, and assured that they will adhere to the original agreement contrary to reports.You can read this blog's first post here regarding Citigroup's deal with the Mets. Since then, the company's stock has fallen to 3.58 a share (C). They have sworn that no TARP funds would go towards their agreement with the organization. Despite the promise, politicians with clout, including U.S. House Representatives Dennis Kucinich and Ted Poe, have written to Treasury Secretary Geithner asking him to step in to get the deal with the team dissolved.
That's not all the financial buzz going on in Queens. In a post to Metsblog this morning, Matt Cerrone cites a tipster claiming there is "scuttlebutt around town" claiming the Wilpons may be forced to sell a minority share of the team due to their hit in the Madoff scandal.
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