A-Rod Needs a New Bank
It is a swing and a miss for Bank of America.
BofA has halted its pursuit of the New York Yankees, ending talks for a major sponsorship of the new stadium.
Yankees spokeswoman Alice McGillion said these discussions regarded a “special relationship,” not a “naming rights” relationship.
BofA, which has received $45 billion in TARP, told The Associated Press that “these are unprecedented times that perhaps call for some very difficult decisions.” Appearances count for something it seems, even if Ken Lewis continues to travel via private jet.
This doesn’t mean the relationship is completely kaput.
“In light of recent events, with the downturn in the economy and the effect on financial institutions including government support of those institutions, we have determined that it is better to enter into a traditional business arrangement with a financial institution,” McGillion said in a statement.
BofA spokesman Joe Goode told the news source “it’s our plan to explore alternative ways to maintain our business relationship.”
In other words in baseball-speak, Bank of America is still in the game – only it has been moved down in the lineup.
