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Mets owner Steven Cohen suggest presenting Bobby Bonilla with oversized check every yearPosted by barry 
on 11/24/20 at 11:00 am
on 11/24/20 at 11:00 am
54
1re: Mets owner Steven Cohen suggest presenting Bobby Bonilla with oversized check every yearPosted by CunningLinguist 
on 11/24/20 at 11:02 am to barry
on 11/24/20 at 11:02 am to barryThat would be awesome
re: Mets owner Steven Cohen suggest presenting Bobby Bonilla with oversized check every yearPosted by barry on 11/24/20 at 11:07 am to CunningLinguist
on 11/24/20 at 11:07 am to CunningLinguistYou can have a lot more fun with paying people money when you are worth $15B
re: Mets owner Steven Cohen suggest presenting Bobby Bonilla with oversized check every yearPosted by OldmanBeasley 
on 11/24/20 at 11:12 am to barry
on 11/24/20 at 11:12 am to barrySomehow I was completely unaware of this Bobby Bonilla deal, how did this come about?
re: Mets owner Steven Cohen suggest presenting Bobby Bonilla with oversized check every yearPosted by MasterAbe1 
on 11/24/20 at 11:14 am to OldmanBeasley
on 11/24/20 at 11:14 am to OldmanBeasleyLet’s just say dudes been getting paid for not playing about as long as I’ve been alive
re: Mets owner Steven Cohen suggest presenting Bobby Bonilla with oversized check every yearPosted by KosmoCramer 
on 11/24/20 at 11:16 am to OldmanBeasley
on 11/24/20 at 11:16 am to OldmanBeasleyquote:
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.
re: Mets owner Steven Cohen suggest presenting Bobby Bonilla with oversized check every yearPosted by usc6158 
on 11/24/20 at 11:24 am to OldmanBeasley
on 11/24/20 at 11:24 am to OldmanBeasleyquote:
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.
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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re: Mets owner Steven Cohen suggest presenting Bobby Bonilla with oversized check every yearPosted by Floyd Dawg 
on 11/24/20 at 1:03 pm to usc6158
on 11/24/20 at 1:03 pm to usc6158What 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 at 1:05 pm
re: Mets owner Steven Cohen suggest presenting Bobby Bonilla with oversized check every yearPosted by Pettifogger 
on 11/24/20 at 1:17 pm to Floyd Dawg
on 11/24/20 at 1:17 pm to Floyd Dawgquote:
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
re: Mets owner Steven Cohen suggest presenting Bobby Bonilla with oversized check every yearPosted by I Bleed Garnet 
on 11/24/20 at 1:29 pm to barry
on 11/24/20 at 1:29 pm to barrySAC is the king
re: Mets owner Steven Cohen suggest presenting Bobby Bonilla with oversized check every yearPosted by TigerintheNO on 11/24/20 at 1:33 pm to usc6158
on 11/24/20 at 1:33 pm to usc6158The 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.
re: Mets owner Steven Cohen suggest presenting Bobby Bonilla with oversized check every yearPosted by Evolved Simian 
on 11/24/20 at 3:06 pm to Floyd Dawg
on 11/24/20 at 3:06 pm to Floyd Dawgquote:
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.
re: Mets owner Steven Cohen suggest presenting Bobby Bonilla with oversized check every yearPosted by kywildcatfanone 
on 11/24/20 at 4:43 pm to barry
on 11/24/20 at 4:43 pm to barryThey already have a Bobby Bonilla day, it's celebrated on here.
With that said, I would watch.
With that said, I would watch.
re: Mets owner Steven Cohen suggest presenting Bobby Bonilla with oversized check every yearPosted by AUCE05 
on 11/24/20 at 6:25 pm to KosmoCramer
on 11/24/20 at 6:25 pm to KosmoCramerThat, 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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