New York City ending business ties with Trump Organization, mayor says

New York City To End Trump Contracts Over US Capitol Siege Says Mayor

Separately, a spokesman for the leading commercial real estate firm Cushman & Wakefield said in an email that it will not longer do business with the Trump Organization.

De Blasio estimated that the Trump Organization profits about $17 million annually from the contracts from the four sites.

In a statement, de Blasio said, "The president incited a rebellion against the United States government that killed five people and threatened to derail the constitutional transfer of power".

"Yet another example of Mayor de Blasio's incompetence and blatant disregard for the facts", the statement said.

The city expects a legal challenge, but "we're on strong legal ground", de Blasio said.

The mayor said that the Trump Organization now profits $17 million per year from the contracts.

New York City is just one of the many entities who have signaled their disgust with President Trump by abruptly cutting ties - although the existence of a golf course operated by the Trump Organization and funded by taxpayers arguably raises its own set of questions.

There are three main agreements that they are working to terminate: the Central Park Carousel, Wollman and Lasker skating rinks (both also in Central Park), and the Ferry Point Golf Course in The Bronx.

"The contracts make very clear: If the leadership of a company is engaged in illegal activity, we have the right to sever the contract, the mayor said Wednesday on an appearance on MSNBC". Termination of the contract to run the carousel, which is now closed because of the coronavirus pandemic, will take effect 25 days after written notice.

"He has dishonored New York City by his actions", the mayor added. He will still operate Trump Tower on Manhattan's Fifth Avenue and the Trump International Hotel on Central Park West. Trump moved his official residence from Trump Tower to Florida in 2019.