The New York Mets and Citigroup Inc. announced 21 months ago their record-breaking naming-rights deal for the forthcoming Citi Field. And for nearly that long, questions and seeming uncertainty have surrounded the pact due to the ongoing global credit crunch and Citibank’s well-documented financial woes.

But not only is the deal still on solid ground, both sides say, but the club doesn’t even acknowledge any annoyance at the constant barrage of questions.

“It really hasn’t been too tough,” said Dave Howard, Mets executive vice president of business operations. “We’re both beyond pleased with the relationship and we’re very confident Citi will withstand the current environment.”

The 20-year deal was widely reported to be worth $400 million when including commitments to club-controlled media such as SportsNet New York. But Howard earlier this year said that figure is incorrect, and perhaps shockingly, is significantly lower than the actual and closely guarded real figure.

That nine-figure total commitment by Citibank, whatever its precise value, has been consistently juxtaposed against 28,000 company layoffs since early last year and about $17 billion in losses over the past three fiscal quarters. The company’s stock is down 42 percent so far this year.

“The thing to remember is that the value they’ve already received is substantial, and this is for an agreement that really hasn’t kicked in yet,” Howard said. “Looking at the Google hits alone, you see the kind of impressions, value and media exposure being delivered in this agreement.”

A simple search seems to bear Howard out. The entry “Citi Field” generates
3.49 million results, a number far in excess of some newer MLB ballparks already open such as Busch Stadium, Petco Park, Turner Field, and Citizens Bank Park.