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Mar 2, 2017 8:43 PM

Citgo sign near Fenway Park could come down if deal on rent costs isn't reached

BOSTON — A Venezuelan-owned oil company and a landlord are locked in a stalemate over how much Citgo Petroleum Corp. should pay to rent the perch for their iconic sign that serves as a backdrop to Fenway Park.

READ: Boston's iconic Citgo sign may receive protection

Citgo's lease is set to expire days before the Boston Red Sox home opener, the Boston Globe reported.

Insiders told the Globe that Citgo pays about $250,000 a year to recent building owner Related Beal, which is below-market rate. Citgo and Related are actively talking over the amount to pay for the outdoor advertising spot. Both sides said they hope to reach a mutually agreeable price.

The Citgo sign has been part of Boston's skyline since 1940. The current sign dates to 1965 and is visible over the famed left field wall at nearby Fenway Park.

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