New York City to Terminate Trump Business Contracts After Capitol Riots

New York City Mayor Bill de Blasio announced on Wednesday morning that the city will terminate all of its existing business contracts with President Donald Trump's former company. In an interview on MSNBC, de Blasio said that this was a response to the president's alleged incitement of the Capitol riot last week. De Blasio said that the Trump Organization earns about $17 million per year in profits from its NYC contracts.

"I'm here to announce that the city of New York is severing all contracts with the Trump Organization," de Blasio said. He indicated a clause in the city contract allowing it to terminate any agreement if the leadership of a company is engaged in criminal activity. He went on: "Inciting an insurrection — let's be very clear, let's say the words again — inciting an insurrection against the United States government clearly constitutes criminal activity."

According to de Blasio, the Trump Organization operates two ice skating rinks, a golf course and the Central Park carousel all in New York City. So far, the Trump Organization has not commented publicly on these major losses of business.

Technically speaking, Trump himself is no longer operating the Trump Organization, as he is required to give up his personal business interest for the duration of his presidency. However, de Blasio said earlier in the week that he had gone over the legality of terminating the Trump Organization contracts over Trump's personal conduct, and found that it would be permissible in court. "The lawyers looked at it and it was just as clear as a bell that's grounds for severing these contracts and we're moving to do that right away," he said.

De Blasio also noted that these cuts will not take effect right away, as city officials follow the process for terminating a contract. He noted that cutting off the Ferry point golf course in the Bronx is particularly complex, "and is expected to take a number of months."

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This blow to the Trump Organization follows several others over the last week. Another golf-related termination reportedly devastated the president personally, when the PGA of America voted to cancel plans to host the PGA Championship at a Trump-owned golf course in New Jersey next year.

Political funds have been impacted even more directly. Many companies and individuals have announced a halt on donations to Trump, to Republicans or to politicians in general. More such cuts are expected to continue as the extent of the legal action against Trump over the Capitol riot becomes clear.