WAY OT: Mets paying Bobby Bonilla until 2035????
http://mlb-facts-and-rumors.blogs.cbssports.com/mcc/blogs/entry/22297882/24087594
"Ask the Mets how much they enjoy having to pay Bobby Bonilla $1.1 million from 2011 to 2035 after he last played for the Mets in 1999."
I realize this really doesn't have much to do with UM, but seriously?
Maybe Gary Bettman needs to get on the case and start investigating baseball contracts... ha.
And after further investigation... it's true.. nice retirement package.
August 24th, 2010 at 3:19 PM ^
Wilpon (owner of mets) is an alum and a big donor. so not too OT
August 24th, 2010 at 3:24 PM ^
thanks for the info... I still hate the Mets though... now just a little less.
August 24th, 2010 at 3:19 PM ^
Speaking of the Mets the pitching matchup against Fla tonight is Dickey vs Johnson. Giggidy.
August 24th, 2010 at 3:19 PM ^
A lot of those massive MLB contracts have tons of deferred money (for many, the deferred money is even interest-free, so the contracts are slightly less huge than they appear).
I think I remember hearing that A-Rod's original 10yr / $255M deal had deferred payments for 15 or 20 years after the end of the contract.
August 24th, 2010 at 3:24 PM ^
Bobby Bonilla is the name.. I saw him play a lot.. don't ever remember him getting a hit.
August 24th, 2010 at 3:57 PM ^
Because he had a couple thousand of them. Maybe you are too young.
August 24th, 2010 at 5:31 PM ^
Joking... my way of saying he was overrated...
Guess none of it translates well on a computer.
August 24th, 2010 at 5:51 PM ^
I thought that maybe you were a Mets fan and Bonillia did a Juan Gone stint that provided your only glimps of him as a player.
August 24th, 2010 at 3:47 PM ^
It's a big market team that spends freely and makes terrible decisions and has almost no long-terms planning. There's zero sympathy from other fan bases and deservedly so.
August 24th, 2010 at 4:09 PM ^
closer beats up his family
August 24th, 2010 at 8:21 PM ^
thank god they didn't pick up Brett Myers..
August 24th, 2010 at 3:59 PM ^
He was owed ~$6M. and they negotiated a deal where instead of paying him the $6M, they would pay him $1.1 for 25 years.
The payments were deffered from 2000 to 2010 (approx), and were discounted at a pretty good interest rate for Bonilla.
The Mets freed up $6.0 in salary when they were competing for championships and basically restructured it into a 25 year annuity starting in 2010.
August 24th, 2010 at 4:22 PM ^
But this is sort of ridiculous. It's like one of those terrible deals that those structured settlement purchasers are always trying to put over on the cash-poor. I doubt the Mets were that hard up for cash.
August 24th, 2010 at 5:58 PM ^
Wish I could get a nice deal like that
August 24th, 2010 at 6:44 PM ^
should be in the Hall of Fame for this deal alone.