The New York Mets and Citigroup are denying a report in Tuesday's Wall Street Journal that the troubled banking giant is exploring the possibility of backing out of a $400 million marketing deal with the team.

According to the Wall Street Journal, Citigroup officials are weighing whether to try to void the 20-year agreement.

The contract includes the naming rights for the Mets new stadium, Citi Field, which is slated to open in April.

However, the Mets released a statement today saying it is their belief that the deal is solid.

"In conversations this morning, Citi reinforced that they will honor our legally binding agreement," said the statement.

Citigroup also released a statement saying it was committed to the deal and that none of the bailout money it is receiving from the federal government will be used for the stadium deal.

Met fans who spoke with NY1 said they do not have any attachment to the name Citi Field.

"Maybe they should name it after an old legend of the Mets," said one fan.

"I think it's probably a waste of money for them to put it on that, but then again they should probably take away the executive salaries before anything else anyway," said another. "It's a lot of money for something that's basically just advertising for them, what good is it going to do if they can't stay in business?"

"I don't think it would really matter about the name, just as long as there is a stadium and the Mets can play there," said a third.

Citigroup has come under pressure recently from Washington for the deal with the Mets, since the bank accepted $45 billion in bailout funds from the government.

If Citigroup were to back out of its agreement with the Mets, it likely would not happen immediately and could involve the bank paying a breakup penalty to the Mets.