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The city plans to issue $341.2 million in additional tax-exempt bonds on behalf of the Yankees and Mets to complete the stadiums, whose combined cost is about $2.2 billion.
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The Mets and Citi do not want the Mets’ new stadium to be known as The Ballpark Formerly Called Citi Field.
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As Citigroup grovels for a bailout from public funds, the Mets insist the name of their new ballpark, Citi Field, will not change.
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Citigroup, which agreed in 2006 to a 20-year, $400 million contract to name the Mets’ new stadium Citi Field, will keep the deal despite recently absorbing billions of dollars in losses.
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There isn’t much left of Shea Stadium anymore, with part of it disappearing every day as the Mets move toward Opening Day at Citi Field in April.
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The Yankees and the Mets have said little, if anything, about their plans to say farewell to their old stadiums.
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