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barry
Cincinnati Fan
Location, Location, Location
Member since Aug 2006
48340 posts

Mets owner Steven Cohen suggest presenting Bobby Bonilla with oversized check every year
This is the sort of ownership MLB needs.

Image: https://i.imgur.com/FWGiQDx.png


CunningLinguist
New Orleans Saints Fan
Dallas, TX
Member since Mar 2006
17043 posts

re: Mets owner Steven Cohen suggest presenting Bobby Bonilla with oversized check every year
That would be awesome


barry
Cincinnati Fan
Location, Location, Location
Member since Aug 2006
48340 posts

re: Mets owner Steven Cohen suggest presenting Bobby Bonilla with oversized check every year
You can have a lot more fun with paying people money when you are worth $15B


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160
OldmanBeasley
USA Fan
Member since Jun 2014
3676 posts

re: Mets owner Steven Cohen suggest presenting Bobby Bonilla with oversized check every year
Somehow I was completely unaware of this Bobby Bonilla deal, how did this come about?


MasterAbe1
LSU Fan
Member since Oct 2016
2602 posts

re: Mets owner Steven Cohen suggest presenting Bobby Bonilla with oversized check every year
Let’s just say dudes been getting paid for not playing about as long as I’ve been alive


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80
KosmoCramer
Ohio State Fan
Member since Dec 2007
70238 posts

re: Mets owner Steven Cohen suggest presenting Bobby Bonilla with oversized check every year
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.


usc6158
Southern Cal Fan
Member since Feb 2008
29303 posts
 Online 

re: Mets owner Steven Cohen suggest presenting Bobby Bonilla with oversized check every year
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.


lsufanva
LSU Fan
sandston virginia
Member since Aug 2009
10711 posts

re: Mets owner Steven Cohen suggest presenting Bobby Bonilla with oversized check every year
Stupid of the Mets, brilliant by Bonilla.


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90
barry
Cincinnati Fan
Location, Location, Location
Member since Aug 2006
48340 posts

re: Mets owner Steven Cohen suggest presenting Bobby Bonilla with oversized check every year
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.


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30
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dhuck20
Georgia Fan
SCLSU Fan
Member since Oct 2012
14139 posts

re: Mets owner Steven Cohen suggest presenting Bobby Bonilla with oversized check every year


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20
Floyd Dawg
Georgia Fan
Silver Creek, GA
Member since Jul 2018
1658 posts

re: Mets owner Steven Cohen suggest presenting Bobby Bonilla with oversized check every year
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
This post was edited on 11/24 at 1:05 pm


Pettifogger
Atlanta Braves Fan
Capitol Hill Autonomous Zone
Member since Feb 2012
62531 posts

re: Mets owner Steven Cohen suggest presenting Bobby Bonilla with oversized check every year
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


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50
I Bleed Garnet
South Carolina Fan
TriBeCa by way of CLT
Member since Jul 2011
47050 posts

re: Mets owner Steven Cohen suggest presenting Bobby Bonilla with oversized check every year
SAC is the king


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TigerintheNO
LSU Fan
New Orleans
Member since Jan 2004
35162 posts

re: Mets owner Steven Cohen suggest presenting Bobby Bonilla with oversized check every year
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.


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110
Evolved Simian
Alabama Fan
Bushwood Country Club
Member since Sep 2010
17590 posts

re: Mets owner Steven Cohen suggest presenting Bobby Bonilla with oversized check every year
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.


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10
gthog61
Georgia Tech Fan
Irving, TX
Member since Nov 2009
67742 posts

re: Mets owner Steven Cohen suggest presenting Bobby Bonilla with oversized check every year
time value of money

amazing the basic shite that people ooh and ahh over


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10
kywildcatfanone
Kentucky Fan
Wildcat Country!
Member since Oct 2012
76264 posts

re: Mets owner Steven Cohen suggest presenting Bobby Bonilla with oversized check every year
They already have a Bobby Bonilla day, it's celebrated on here.

With that said, I would watch.


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AUCE05
Auburn Fan
Member since Dec 2009
34666 posts

re: Mets owner Steven Cohen suggest presenting Bobby Bonilla with oversized check every year
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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