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Citi Field

Aerial view of stadium

Citi Field is a baseball park located in Flushing Meadows–Corona Park in the New York City borough of Queens. Completed in 2009, it is the home field of the New York Mets of Major League Baseball. Citi Field was built as a replacement for and adjacent to Shea Stadium, which opened in 1964 next to the site of the 1964 New York World's Fair.

Citi Field was designed by Populous (then HOK Sport), and is named after Citigroup, a New York financial services company which purchased the naming rights. The $850 million baseball park was funded with $615 million in public subsidies,[1] including the sale of New York City municipal bonds which are to be repaid by the Mets plus interest. The payments will offset property taxes for the lifetime of the park.[2][3] The Mets are receiving $20 million annually from Citibank in exchange for naming the stadium Citi Field.

In May 2017, it was announced that Citi Field will host the 2018 NHL Winter Classic, set to be held between the New York Rangers and the Buffalo Sabres on January 1, 2018. The Sabres will be the designated home team for the game, as the Rangers' home arena of Madison Square Garden would lose its property tax exemption from the City of New York if any Rangers home games are not played there.[4]

ReferencesEdit

  1. Archived copy. Archived from the original on 2016-03-28. Retrieved on 2015-09-17.
  2. Bagli, Charles V.. "As Stadiums Rise, So Do Costs to Taxpayers", November 4, 2008. Retrieved on January 9, 2010. 
  3. Bagli, Charles V.. "As Stadiums’ Costs Rise, City Agrees to New Bond Offerings", December 8, 2008. Retrieved on January 9, 2010. 
  4. "Sabres 'hosting' 2018 Winter Classic vs. Rangers reportedly saves MSG $40M", cbssports.com, May 12, 2017. Retrieved on August 2, 2017. 
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