New York City is severing its multimillion-dollar contracts with the Trump Organization after President Donald Trump's involvement in last week's rioting on Capitol Hill, Mayor Bill de Blasio announced Wednesday on MSNBC.

“The contracts make very clear that if the company and the leadership of that company is engaged in illegal activity, we have a right to sever the contract,” de Blasio said. “Inciting an insurrection against the United States government clearly constitutes criminal activity.”

In a follow-up statement, the mayor's office said: “The City of New York will not be associated with those unforgivable acts in any shape, way or form, and we are immediately taking steps to terminate all Trump Organization contracts.”

The contracts are for Central Park's Wollman and Lasker ice skating rinks and famed carousel — all of which the Trump Organization has run since the 1980s — and the Trump Golf Links golf course at Ferry Point in the Bronx, which it has run since 2015.

The Trump Organization makes $17 million a year from the contract's, the mayor's office said. That's less than it has made at some of its golf properties, such as the $74 million it reported from Trump Doral in 2017, but marks a loss of prestige for the diminished Trump brand. Running New York City concessions has historically been a privilege afforded top developers. His ability to capitalize on publicity on the rebuilding of the Wollman Rink was central to Trump's rise in the 80's as a local and national celebrity.

Of course, Trump is threatening to sue New York City. Good luck with that, LOSER!

[nbcnews.com]