Mets, Aramark Agree To 30-Year Deal At Citi Field

Aramark Reaches 30-Year Deal For Mets' Citi Field

The Mets and Aramark have signed a 30-year deal for food, beverage and merchandise sales at Citi Field, an agreement that “stands among the longest for the concessions industry and could be the richest ever for Aramark,” according to Fisher & Muret of SPORTSBUSINESS JOURNAL. The Mets, instead of receiving a percentage of gross revenue from sales, will "garner a portion of the net." Mets Exec VP/Business Operations Dave Howard said the deal is “along the lines of a joint venture.” Howard: “We’re true partners going forward. We’re sharing all the upside and all the risk.” Industry experts said that the Mets and Aramark “will share revenue easily exceeding $50[M] per year” based on per capita spending of at least $18 per person. Fisher & Muret note the deal “continues a long-term relationship at Shea Stadium for the Mets that dates back to 1995 with Aramark and for decades prior to that with Harry M. Stevens, which Aramark purchased in 1994.” Industry consultant Chris Bigelow indicated that it is likely that there is "some mechanism that would allow either party to get out [of the deal] if it were not happy with the relationship."  Bigelow: “Sometimes, it’s really a 10-year deal with multiple options. If everything goes right, it’s 30 years” (SPORTSBUSINESS JOURNAL, 6/4 issue).