Mar 10, 2010 at 02:35 PM
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Giants Latest Team to Sue SpongeTech

In building up sponsorships with virtually every pro sports team, SpongeTech might have employed a successful tactic -- buying sports inventory at fire sale prices from distressed financial companies. However, the strategy of marketing sponges so aggressively to sports fans through signage cleared aimed at sole name awareness, always did seem a little strange. Now, it appears the spongemaker has an outstanding tab with the Giants, Mets, Knicks and Rangers.

The New York Post today reports that the Giants are the latest to file suit, claiming that SpongeTech owes the team $360,000 for unpaid catering services stemming from the company's use of a private suite and associated "food, drinks and hospitality charges."

This brings SpongeTech's tab to New York sports teams to a total of $1.1 million, according to the Post.