General Motors, citing the poor economic climate and its shortage of cash, has declined to renew its sponsorship of the New York Yankees, Bloomberg reports. The struggling car manufacturer will, however, re-up with the New York Mets. “We still want a presence in New York and we can’t do both,” a GM spokeswoman said. The Yankees contract expired in November.
Corporate sponsors all over the nation are curtailing their spending on baseball advertising, and GM warned that it could withdraw from more markets. “Once the contracts end, we will probably stop some sponsorships across the board,” the spokeswoman continued. The move in New York is telling: The market drew the most fans in baseball this past season.