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And impact of the -- -- situation democratic representative Eliot Engel of New York is -- with us right now.
Representative angle you know that's -- thing I've been reading you brought up a lot of reasons why you actually support this naming situation you talk about free press you talk about contract law although it's really legitimate concerns with this case.
Well what's really.
My concern of course is the the New York economy and my concern is trying to -- contract after it's signed a three years ago.
It's very important you know congress allocated these TARP funds to bail out failing institutions.
City -- bank was -- one of them we want Citibank.
And the other companies receiving the top funds to be successful.
So that they can pay back the taxpayers the way they can be successful is that they advertise.
So it makes no sense whatsoever it's -- -- to try to cancel the deal.
And this is less than 1%.
Of the total of -- Citibank's advertising -- and we think it it goes on the road to making Citibank prosperous again.
And making the New York economy -- With all due respect -- maybe 1% but it's still twenty million dollars now in all likelihood everyone that goes -- these Mets games what would have heard of Citigroup before.
In this home Barbara -- everyone's trying to save money every once try to reality took allocates resources.
Isn't -- sort of preposterous that's people who are actually struggling the paper ticket.
To be you know in some sort of strange way actually paying twenty million dollars indirectly force a sign on the stadium.
Well let's see there are many other banks and many other institutions.
That have accepted TARP money that have naming rights -- stadiums after them all around the country.
So are we going to single out the Mets in and Citigroup or are we going to say than everybody takes -- money I should not have naming rights.
I think it's a slippery slope.
And once you start doing that once politicians and congressman's I try to micromanage.
And the type of advertising the companies can do I think we're we're on a slippery slope.
And you know Madison avenue advertising in New York is very important.
I don't want Madison avenue to turn into Wall Street we really cannot -- their hands it's very very important for the New York economy.
It's player rep.
Present I want overhead -- blog is a baseball reporter for the associated press and I want to shift gears back to this situation what Madoff.
-- kind of impact it really could be having on the Mets team and our ownership.
It's hard to tell thus far payroll is exactly where the Mets -- last summer would be.
-- Mets right now are projected at about 144 when I'm 45 million.
They'll be around tied for second in the majors with Boston trailing only the Yankees.
They made the moves to fix their bullpen bringing in Frankie Rodriguez and JJ -- And they resigned Oliver Perez so they're right where they protect the today.
Brought on this situation and naming rights situation with city as Major League Baseball voice an opinion one way or the other.
Major League Baseball this says it's up to the club that's confident.
That the deal will hold up the -- say it's -- Citigroup says it's binding Steve Greenberg who broke but it Allen and company.
Says it's a done deal so unless something changes it's a done deal.
-- -- -- -- -- wanna I wanna thank both -- this morning.
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