Over the past several years there has been considerable talk of building new sports stadiums. In some cases, this talk has been backed up by money from companies eager to plaster their name all over a stadium. Among those companies are Citibank and Bank of America, two of our investments. Citibank signed a deal with the NY Mets whereby they would pay the Mets $20,000,000 a year for twenty years for the right to name the new Mets field. BofA will pay the Carolina Panthers $7,500,000 a year for rights to 'name' its stadium.
Should these deals be renegotiated or killled?
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