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Mets owner Steven Cohen suggest presenting Bobby Bonilla with oversized check every year
Posted on 11/24/20 at 11:00 am
Posted on 11/24/20 at 11:00 am
This is the sort of ownership MLB needs.
6
Posted on 11/24/20 at 11:02 am to barry
That would be awesome
Posted on 11/24/20 at 11:07 am to CunningLinguist
You can have a lot more fun with paying people money when you are worth $15B
Posted on 11/24/20 at 11:12 am to barry
Somehow I was completely unaware of this Bobby Bonilla deal, how did this come about?
Posted on 11/24/20 at 11:14 am to OldmanBeasley
Let’s just say dudes been getting paid for not playing about as long as I’ve been alive
Posted on 11/24/20 at 11:16 am to OldmanBeasley
quote:
Somehow I was completely unaware of this Bobby Bonilla deal, how did this come about?
The Mets wanted more salary flexibility, so instead of paying Bobby a significant salary for several years, they stretched it out over MANY.
Posted on 11/24/20 at 11:24 am to OldmanBeasley
quote:
Somehow I was completely unaware of this Bobby Bonilla deal, how did this come about?
Fred Wilpon thought he was making massive returns on this amazing fund run by a genius named Bernie Madoff and instead of buying out Bonilla upfront agreed to a deferred buyout that was 6x more expensive but delayed a decade and spread out over 25 years.
Posted on 11/24/20 at 11:39 am to usc6158
Stupid of the Mets, brilliant by Bonilla.
Posted on 11/24/20 at 11:40 am to usc6158
quote:
Fred Wilpon thought he was making massive returns on this amazing fund run by a genius named Bernie Madoff and instead of buying out Bonilla upfront agreed to a deferred buyout that was 6x more expensive but delayed a decade and spread out over 25 years.
It was 6x more expensive, but the average annual return I think was between 8-9%. A pretty solid return to get considering its very low risk coming from a MLB team.
Posted on 11/24/20 at 1:03 pm to barry
Posted on 11/24/20 at 1:03 pm to usc6158
What will blow your minds is that Bonilla wasn't the only player to accept this sort of deal from a team, he was just the most well-known and the fact that Wilpon and the Mets got swindled by Madoff made it a really bad deal.
How many of you know that Bruce Sutter has a similar deal with the Braves and it comes off the books in 2021? Bonilla gets $1.19 million annually; Sutter gets $1.12 million annually.
Sutter contract
How many of you know that Bruce Sutter has a similar deal with the Braves and it comes off the books in 2021? Bonilla gets $1.19 million annually; Sutter gets $1.12 million annually.
Sutter contract
This post was edited on 11/24/20 at 1:05 pm
Posted on 11/24/20 at 1:17 pm to Floyd Dawg
quote:
How many of you know that Bruce Sutter has a similar deal with the Braves and it comes off the books in 2021?
Finally Braves can go big next offseason
Posted on 11/24/20 at 1:29 pm to barry
SAC is the king
Posted on 11/24/20 at 1:33 pm to usc6158
The Mets did it with Bret Saberhagen as well, Saberhagen will be 64 when the Mets stop paying him.
They will be paying him 35 years after his last full season with the club. Not bad for winning just 10 games as a Met.
They will be paying him 35 years after his last full season with the club. Not bad for winning just 10 games as a Met.
Posted on 11/24/20 at 3:06 pm to Floyd Dawg
quote:
What will blow your minds is that Bonilla wasn't the only player to accept this sort of deal from a team, he was just the most well-known and the fact that Wilpon and the Mets got swindled by Madoff made it a really bad deal.
It's not even Bonilla's only deferred buyout. He also gets a $500k check from the Orioles every year for 25 years. I think he's only got 9 years left on that one, though.
Posted on 11/24/20 at 4:39 pm to barry
time value of money
amazing the basic shite that people ooh and ahh over
amazing the basic shite that people ooh and ahh over
Posted on 11/24/20 at 4:43 pm to barry
They already have a Bobby Bonilla day, it's celebrated on here.
With that said, I would watch.
With that said, I would watch.
Posted on 11/24/20 at 6:25 pm to KosmoCramer
That, and the team probably placed a chunk of cash in a mutual fund and is paying him from the dividend. This was a good move on both ends. Bobby's risk is dying young and never seeing this. Bryce Harper turned down a similar deal.
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