Happy Bobby Bonilla Day!
- Thread starter fordman84
- Start date
Hip hip hooray
- Joined
- Aug 17, 2020
- Posts
- 12,144
- Reaction score
- 26,544
- Bookie:
- $ 500.00
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.
fordman84
Administrator
- Joined
- Aug 13, 2020
- Posts
- 36,591
- Reaction score
- 66,613
- Bookie:
- $ 95,570.00
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.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
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.
- Joined
- Aug 17, 2020
- Posts
- 12,144
- Reaction score
- 26,544
- Bookie:
- $ 500.00
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.
fordman84
Administrator
- Joined
- Aug 13, 2020
- Posts
- 36,591
- Reaction score
- 66,613
- Bookie:
- $ 95,570.00
Seems like there was a Bonilla like deal that was recently done as well, like in the last 5 years.
fordman84
Administrator
- Joined
- Aug 13, 2020
- Posts
- 36,591
- Reaction score
- 66,613
- Bookie:
- $ 95,570.00
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
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.
Barry Bonilla's Song!!! I love it!!!
- Joined
- Aug 17, 2020
- Posts
- 37,331
- Reaction score
- 43,021
- Bookie:
- $ 10,650.00
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.
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.
fordman84
Administrator
- Joined
- Aug 13, 2020
- Posts
- 36,591
- Reaction score
- 66,613
- Bookie:
- $ 95,570.00
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.
- Joined
- Aug 20, 2020
- Posts
- 2,522
- Reaction score
- 3,347
- Bookie:
- $ 1,000.00
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.
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.