Monday, March 16, 2009
I think municipal authorities should capitalize off corporate profits connected with naming sports stadiums. Take the New York City's refusal to rename a subway station at the Mets new ballpark after "Citi Group," which paid $20 million for naming rights. It's bad enough that Citi is both bailed out and splurging on the naming rights. However, if publicly subsidized companies are going to benefit from free municipal advertising every time trains pass through the station or someone looks at a subway map, then the public should get a cut for providing that service. If sports franchises like the Mets refuse to cough up a percentage, then cities should find creative ways to write corporate sponsors out of the free advertising.