BOSTON (CBS) – The iconic Citgo sign in Kenmore Square isn’t going anywhere in the near future.

Boston Mayor Marty Walsh, Citgo, Related Beal, and Boston University released a joint statement on Thursday announcing that a deal has been struck to keep the famous sign in place “for years to come.”

We are pleased to share that we have reached a long-term resolution that will preserve the Citgo sign and allow for it to remain in place in Kenmore Square for years to come, recognizing the significance that this sign has on our landscape in Boston, while balancing the opportunity for our horizons to continue evolving in future years.

Earlier this month the Boston Landmarks Commission said the illuminated sign should receive landmark status and all the protections that come with it, something that Walsh would have to approve. But Walsh will instead veto the landmark designation because of the new agreement that was reached.

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