Shea Hello to CitiField

Citigroup wins the naming rights to the new Mets ballpark.
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Citigroup

(C) - Get Report

is getting its name on the New York Mets' new $800 million ballpark.

The Mets officially announced the naming deal with Citigroup during a groundbreaking ceremony for the 45,000-seat ballpark. The new stadium, which will replace the aging Shea Stadium in Queens, will be called CitiField.

Citigroup reportedly is paying the Mets up to $20 million a year for naming rights to the ballpark. The deal runs for 20 years.

The new stadium will open in 2009.