Happy Bobby Bonilla Day!

fordman84

fordman84

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Another July 1, another $1.9m check from the Mets to a player who hasn't played for them for over two decades. Madoff strikes again, and will continue to do so through 2035. :suds:
 
Bayou Tiger said:
I had heard snippets of this story but never understood exactly what the deal was. Here's a read for anyone interested. Lucky Bastard! haha

www.espn.com

It's Bobby Bonilla Day! Explaining why the former Met gets paid $1.19M today and every July 1

Bobby Bo hasn't played for the Mets since 1999, but Friday he'll receive a hefty check from his former employer. Here's what you need to know about the unusual annual payday.
www.espn.com www.espn.com
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Yeah it's a hilarious story and a brilliant move by Bonilla to accept it. I didn't hear if his people thought of it or the Mets people, but it's a hell of a deal. turning $5.9 lump sum in 2000 into 25 payments of $1.9 over 25 years was a smart move. Of course the Mets liked it because they were caught up in Madoff's lies and earning way north of what they thought they would pay out by investing that $6m with Bernie.
 
fordman84 said:
Yeah it's a hilarious story and a brilliant move by Bonilla to accept it. I didn't hear if his people thought of it or the Mets people, but it's a hell of a deal. turning $5.9 lump sum in 2000 into 25 payments of $1.9 over 25 years was a smart move. Of course the Mets liked it because they were caught up in Madoff's lies and earning way north of what they thought they would pay out by investing that $6m with Bernie.
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He actually had 2 deals like this....



• Bobby Bonilla (again): A second deferred-contract plan with the Mets and Orioles pays him $500,000 a year for 25 years. Those payments began in 2004.
 
Bayou Tiger said:
He actually had 2 deals like this....



• Bobby Bonilla (again): A second deferred-contract plan with the Mets and Orioles pays him $500,000 a year for 25 years. Those payments began in 2004.
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Seems like there was a Bonilla like deal that was recently done as well, like in the last 5 years.
 
ftw.usatoday.com

8 active MLB players who, like Bobby Bonilla, got deferred money in their contracts

Some big names have gotten deferred money on their contracts like Bonilla did with the Mets.
ftw.usatoday.com ftw.usatoday.com

More than just a few, 8 current players. Reading up on Diaz and some others that keep getting these deals. I'd be ALL FOR signing one of these if I were in their shoes. Plenty of money now but go ahead and get some mailbox money for when in retirement. Make sure you don't have to rely on the pension payments or whore yourself out for autographs or something like that in retirement.
 
I love laughing at the Mets, and Bobby Bonilla day is a tradition, but deals like his are more common than you think.

Hell, the Braves just got done paying Bruce Sutter like 2 years ago, and he hadn’t played for them since the late 80’s.
 
Illustrious Potentate said:
I love laughing at the Mets, and Bobby Bonilla day is a tradition, but deals like his are more common than you think.

Hell, the Braves just got done paying Bruce Sutter like 2 years ago, and he hadn’t played for them since the late 80’s.
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True, but most of the deferred contracts don't wait so long before they start paying and most didn't get the stars to align like Bonilla's that makes it really lopsided. Usually it is just deferred by a few years and the payout is similar to the current value of the lump sum.
 
 
Best pension plan ever!
 
Bugs Bunny Money GIF by Looney Tunes
Pay Day Money GIF
Make It Rain Money GIF
 
The reaction to this story always makes me shake my head.

Dude invested 5M and got an 8% compounded annually ror. Good investment, for sure. But not an investment that deserves the constant groans it receives.
 
 
calsnowskier said:
The reaction to this story always makes me shake my head.

Dude invested 5M and got an 8% compounded annually ror. Good investment, for sure. But not an investment that deserves the constant groans it receives.
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I stand behind this opinion, yet again.
 
calsnowskier said:
I stand behind this opinion, yet again.
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Yeah, I keep saying, the higher salaries keep climbing, the more this looks like a good deal for the Mets
 
Illustrious Potentate said:
I love laughing at the Mets, and Bobby Bonilla day is a tradition, but deals like his are more common than you think.

Hell, the Braves just got done paying Bruce Sutter like 2 years ago, and he hadn’t played for them since the late 80’s.
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It's embarrassing because it brings up the Wilpons and Bernie Madoff every year
 
Hu War Yu said:
It's embarrassing because it brings up the Wilpons and Bernie Madoff every year
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It was a little more fun previously because of how embarrassed Wilpon was over it. The new ownership doesn't care about the $1.2M annually and has embraced it like the local holiday it should be.
 
Mofo said:
It was a little more fun previously because of how embarrassed Wilpon was over it. The new ownership doesn't care about the $1.2M annually and has embraced it like the local holiday it should be.
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Enjoyed watching that kid Gore pitching tonight. Thought they hooked him too early. Bullpen sucked
 
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