A four-year stay at the White House is not the only thing coming to an end for the Trump Family. New York City Mayor Bill de Blasio has announced his city's plans to cut ties with the Trump Organization by ending several contracts.
De Blasio recently expressed his dismay at Trump's participation in the January 6th Capitol Hill riot, stating, “The president incited a rebellion against the United States government that killed five people and threatened to derail the constitutional transfer of power. The city of New York will not be associated with those unforgivable acts in any shape, way or form." Mayor de Blasio goes on to say that Trump “has dishonored New York City by his actions.”
The city shared publicly last Wednesday that it will no longer be in partnership with the Trump Organization by severing contracts that include the Central Park Carousel, the Wollman and Lasker ice skating rinks, and the Ferry Point Golf Course located in the Bronx.
The city's corporate counsel explains that the contract for the Ferry Point Golf Course is being pulled because there was an expectation of a major golf tournament that would take place there. However, the city deems that this is unlikely to happen now after the PGA Announced that it would be pulling its 2022 PGA Championship tournament that was scheduled to take place at the Trump National Golf Club in Bedminster, New Jersey.
The loss of these New York City contracts is expected to cost the Trump Organization roughly $17 million.
In response to the severed contract, Donald Trump's son and vice president of the Trump Organization, Eric Trump, has expressed his intention to fight back against the city's decision. He shared in the statement, "The City of New York has no legal right to end our contracts and if they elect to proceed, they will owe The Trump Organization over $30 million dollars. This is nothing more than political discrimination, and we plan to fight vigorously."
Mayor Bill de Blasio insists that the city can end its contract with the Trump Organization because of a clause that prohibits any criminal activity.
PGA Response to Trump Organization
The PGA has also shown disapproval of Trump's handling of the events on January 6th. Jim Richardson, president of the PGA shared in a statement, "The PGA of America Board of Directors voted tonight to exercise the right to terminate the agreement to play the 2022 PGA Championship at Trump Bedminster."
The Trump organization responded with a statement of their own which reads in part,
"We have had a beautiful partnership with the PGA of America and are incredibly disappointed with their decision. This is a breach of a binding contract and they have no right to terminate the agreement. As an organization, we have invested many, many millions of dollars in the 2022 PGA Championship at Trump National Golf Club, Bedminster. We will continue to promote the game of golf on every level and remain focused on operating the finest golf courses anywhere in the world."
Other Businesses Jump Ship from Trump Organization
New York and the PGA America are not the only high-profile names cutting ties with the Trump Organization. According to a Bloomberg report, Deutsche Bank, Signature Bank, and Professional Bank plan to end their relationship with the Trumps.
Professional shared in a statement with Bloomberg, "Professional Bank has decided not to engage in any further business with the Trump Organization and its affiliates, and will be winding down the relationship effective immediately."
The Girl Scouts New York Chapter is also aiming to get out of a 15-year lease agreement in a building known as the Trump building.
Lastly, online retailer Shopify has also expressed its intention to sever ties with the Trump Organization by closing two of the Trump Organization's stores as well as the e-commerce section on Trump's election website.
As the dominoes begin to fall for the Trump Organization, it's not quite clear how far and wide the ripple effect will spread, especially considering Trump's children have business enterprises of their own that they will continue to pursue even after their father's reign in the White House ends.
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