The Mayor of New York, Bill de Blasio, announced this morning that the city will cut all ties with Donald Trump’s organization. The mayor says the city currently pays Trump about $17 million a year.

New York has paid Trump for Trump Golf Links at Ferry Point, a city-owned golf course in the Bronx, two ice staking rinks and a carousel in Central Park.

“Inciting an insurrection against the U.S. government clearly constitutes criminal activity,” Mr. de Blasio said on MSNBC. “The City of New York will no longer have anything to do with the Trump Organization.”

The Trump brand is more tarnished than ever. The Washington Post writes:

By refusing to acknowledge that he would be returning to private life, Trump appears to have sabotaged what could have been his best chance at success in that realm — a rebound of the battered Trump brand.

Now, through his encouragement of rioters who ransacked the U.S. Capitol, Trump has made his company a pariah and driven away allies who could have brought it revenue and post-politics credibility.

It goes far beyond Trump’s business relationship with New York. He just lost a prestigious professional golf tournament at his New Jersey club. Also, an e-commerce site shut down the Trump store. He lost a bank and the real estate giant Cushman Wakefield. The Post writes:

The company has handled an array of business for Trump for many years, including office leasing at Trump Tower and 40 Wall Street, and retail leasing in Chicago. It means that Trump’s company will quickly have to find someone else to handle lease negotiations at some of his most prominent properties.“Cushman & Wakefield has made the decision to no longer do business with The Trump Organization,” the company said in a statement.