Tagged: Nationalization

Can We Get Bear Stearns in on This, Too?


In case you hadn’t noticed recently, things are a little rough out there in the world. When organizations like “Cash for Gold” are advertising during the Superbowl, well, you know that it’s going to hurt when we finally hit bottom. But how will this frantic fusillade of FUBAR affect the teams we really care about? And when I say “teams we really care about,” I’m using the ESPN definition which means Boston, the two New York teams and occasionally Philadelphia.

Well, the news is mixed. Boston appears to be sitting pretty and Philly just wrote and directed a hit World Series so they aren’t sweating it. But, considering that this is a “financial crisis” and the financial capital of our fair country is New York, one would expect the Big Apple to be hit extra hard. And one would be correct.

With both teams set to move into new stadiums this year and with the accompanying ticket price mugging, it’s not a good time to be a marketer for the Yankees or Mets. Those bankers just aren’t throwing the cash around like they used to. Perhaps it’s because their new day jobs don’t allow for such wanton displays of consumption.

But the big question is, what happens to the new stadiums themselves? I’m sure the new Yankee Stadium won’t be affected but what about the Mets’ new ballpark where the main sponsor is now almost half-owned by the government? If this is the future of CitiBank (NSFW):

…then what is the future of Citi’s deal with the Mets? Is it this? Or should we believe this? It probably doesn’t help when you’ve managed to catch the attention of some boisterous politicians, either. Just ask former ambassador Charles Freeman about that one.

At this point, though, no one knows what is going to happen. Maybe the Mets will do like the Astros following the Enron debacle and find a new sponsor. Welch’s Grape Juice, perhaps? And maybe Citi will go ahead and decide that plowing part of their Federal stimulus money into some ego-stroking m^sturbation is just what the doctor ordered. All I know is that I’ll be busy melting down my class ring and wondering how much Ed McMahon will give me for it.