The Final 9

NEW YORK — Citi Field will remain the name of the New York Mets' new ballpark following a government bailout the team believes will help the struggling bank survive its economic crisis.

Citigroup agreed in 2006 to pay the Mets US$400 million over 20 years for naming rights to the stadium, scheduled to open next year. Two New York City councilmen said last week that the $800 million ballpark's name should be changed to Citi/Taxpayer Field.

"The company is still an ongoing company and a vital company that is doing business around the globe," Mets chief operating officer Jeff Wilpon said Tuesday. "The taxpayers are backstopping what's going on in the global economy. It's not really Citi's fault that they're in this problem. There are a lot of other banks in the same situation - with naming-rights deals, also."

After Citigroup's shares lost 60 per cent of their value within a week and dropped as low as $3.05, the government agreed last month to give the company a $20 billion cash injection - following an earlier $25 billion infusion. As part of the plan, the government agreed to assume possible losses on risky loans in exchange for $7 billion in preferred shares.

"We have a deal with Citi that is good for them, good for us. It's good business for us to have the partnership and the relationship," Wilpon said. "We think we can bring the right people to help them market their product so they can be a going concern, and that over time, the fans that we bring here will become Citi customers and that Citi will thrive and be able to pay the money back to the government."

Signage for Citi already is visible at the ballpark, which is adjacent to Shea Stadium, and more is to come.

New York Mets say Citi Field will remain name of new ballpark....