N.Y.C. Will End Business with Donald Trump’s Ice Rinks, Golf Course, Central Park Carousel

Erin Schaff - Pool/Getty President Donald Trump

Mayor Bill de Blasio announced Wednesday that New York City will terminate all business contracts with President Donald Trump's business, following last Wednesday's deadly riot at the U.S. Capitol incited by the sitting president.

"I'm here to announce that the city of New York is severing all contracts with the Trump Organization," de Blasio said in an interview on MSNBC. "Our legal team has done an assessment and the contracts make very clear: if a company [or] leadership of a company is engaged in criminal activity, we have the right to sever that contract. Inciting an insurrection ... against the United States government clearly constitutes criminal activity."

De Blasio said the Trump Organization currently gets $17 million a year from the New York City contracts, which cover four different sites: the Central Park carousel, two ice skating rinks, and a golf course in the Bronx.

"I think you're going to see a lot of this kind of domino effect because of the president aiding and abetting an insurrection," de Blasio said.

The mayor added that the city expects to get new vendors to come in and take the sites over "quickly," but added that he expects the Trump Organization to dispute the termination of the contracts in courts.

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The announcement came days after the Capitol riots, in which a large group of pro-Trump supporters stormed the Capitol building in a violent mob that turned led to the deaths of five people.

The president has been widely condemned for inciting the group, telling them to "march to the Capitol" and "fight like Hell" before they breached the building.

Trump is expected to be impeached by the U.S. House of Representatives on Wednesday.

Beyond further disgracing his political legacy, Trump's business dealings have been impacted in the wake of the riots, as well.

On Sunday, PGA of America announced that the 2022 PGA Championship would no longer be held at Trump National Golf Club in Bedminster, New Jersey.

RELATED: Capitol Rioter Spotted in Chamber with Zip Ties Is Arrested After Ex-Wife Calls FBI

Capitol Rioter Spotted in Chamber with Zip Ties Is Arrested After Ex-Wife Calls FBI

Larry Rendell Block is facing federal prison time after his ex-wife reported him to the FBI for being part of the riots

A number of online payment processing firms, including Shopify and Stripe, have also cut ties with the Trump company in recent days. Deutsche Bank reportedly said on Tuesday that it would no longer lend to Trump's company.

RELATED: YouTube Bans Donald Trump's Account from Posting or Commenting for a Minimum of 7 Days

The president's son, Eric Trump, told the Associated Press in a phone interview that the severed business relationships all stemmed from "cancel culture," adding that his father is a man who "would get followed to the ends of the Earth by a hundred million Americans."

Eric, who currently runs the Trump Organization along with his brother, Donald Trump Jr., told the AP: "We live in the age of cancel culture, but this isn't something that started this week. It is something that they have been doing to us and others for years. If you disagree with them, if they don't like you, they try and cancel you."

"He created the greatest political movement in American history and his opportunities are endless," Eric told the AP.

Asked whether he believed his father had incited the mob to violence last Wednesday, the AP reported that the line went dead.