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Shea Stadium Replacement Breaks Ground

NEW YORK CITY-Citigroup will have naming rights of the stadium for at least 20 years. The entrance will be named the Jackie Robinson Rotunda to honor the former Brooklyn Dodgers player.

By Katie Hinderer | Updated on November 13, 2006

NEW YORK CITY-Officials broke ground this morning on the new stadium for the New York Mets, after weekend reports that Citigroup has taken naming rights to the stadium, which is slated to open in 2009. Shea Stadium will be renamed Citi Field. Citigroup’s deal breaks former naming rights records.

The financial services company has signed a 20-year deal for more than $20 million per year. Citigroup has the ability to extend the deal for up to 35 years, according to reports. This deal is almost double the previous largest deal for the naming rights if a stadium; which was set by Reliant Energy when it agreed to pay $10 million a year for the National Football League’s Houston Texans. The stadium is called Reliant Stadium and opened in 2002.

“We are proud to be a partner with a company that shares our values,” said Fred Wilpon, CEO and chairman of the Mets. As part of the partnership, Citigroup and the Mets have given a significant donation to the Jackie Robinson Foundation. In the new stadium, the main entrance will be dedicated to Jackie Robinson. The rotunda, with the former Brooklyn Dodger’s player’s name, will include a statue of the man and the phrase, “A life is not important except for the impact it has on others lives.”

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