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Engel drafted a letter to Treasury Secretary Tim Geithner, arguing against an earlier letter from Rep. Dennis Kucinich, D-Ohio, and Rep. Ted Poe, R-Texas. Kucinich and Poe had demanded that Treasury force Citigroup to break its $400 million, 20-year marketing contract that not only gives Citigroup naming rights to the ballpark, but exclusive advertising throughout the stadium. Among other things, Engel believes there are First Amendment issues at stake in meddling with the Citi Field deal.
Engel wrote:
The other representatives who signed the letter include fellow Democrats Joseph Crowley, Steve Israel, Yvette Clarke, Gregory Meeks and Anthony Weiner. Other interesting details that Engel uses to support his point is the real cost of the deal. Engel points out that Citigroup's $20 million a year payment to the Mets is less than 1% of its advertising budget. We had noted that Citigroup is only spending $250,000 a Mets game, when peer Bank of America Corp. is spending almost $1 million a game for the advertising rights to Carolina Panthers football games. A few weeks back, Dealscape argued that Kucinich and Poe were basically demanding Citigroup should stop spending on advertising:
While the tit-for-tat arguments make for some entertaining journalism for the sports press, business media and political pundits -- not to mention late-night comedians -- the truth is Geithner has bigger issues to focus his energy on, as illustrated by the response to Tuesday's speech unveiling the Obama administration's bank bailout. - Matthew Wurtzel See Engel's letter Categories Deal Video
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Evidently Dealscape is not alone in thinking Citigroup Inc.'s marketing agreement with the New York Mets is reasonable. Six members of New York's delegation in the House of Representatives, led by Rep. Eliot Engel, D-N.Y., agree. 
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