Happy Bobby Bonilla day!

[bnorth]

Today like every July 1 Bobby will get a check from the Mets for $1,193,248.20 till 2035. He also gets an additional $500,000 check from the Mets/Orioles through 2029.

Mr Bonilla might have went from great to below average almost instantly but damn is he getting paid.

[Snapolit1]

Mmmm, I always though it was better to demand all your money from someone up front and not agree to be paid on an installment plan.

Story is always how stupid the Mets were and how savvy Bonilla was.

Next time I buy a house I'll ask the seller after we agree on a sales price if I can hold the money in my bank account for decades.

[seanofjapan]

Originally Posted by Snapolit1

Mmmm, I always though it was better to demand all your money from someone up front and not agree to be paid on an installment plan.

Story is always how stupid the Mets were and how savvy Bonilla was.

Next time I buy a house I'll ask the seller after we agree on a sales price if I can hold the money in my bank account for decades.

Bonilla gave up 5.9 million in 2000 in exchange for 29.8 million paid later.

Even discounting for the time value of money, Bonilla is coming out way ahead in that deal, all for a season he didn’t even have to play.

The Mets always look stupid in that deal for good reason.

[Snapolit1]

Originally Posted by seanofjapan

Bonilla gave up 5.9 million in 2000 in exchange for 29.8 million paid later.

Even discounting for the time value of money, Bonilla is coming out way ahead in that deal, all for a season he didn’t even have to play.

The Mets always look stupid in that deal for good reason.

https://www.businessinsider.com/mets...l-smart-2015-7

[seanofjapan]

Originally Posted by Snapolit1

https://www.businessinsider.com/mets...l-smart-2015-7

Yeah, “if” the Mets had earned an 8% annual return on that money they could have come out ahead.

In reality the Mets owner invested the money in the Bernie Madoff Ponzi scheme and lost it, along with hundreds of millions more, before paying the first dime on the Bonilla deal.

So I stick by my “Mets were stupid” assessment.

[Snapolit1]

Originally Posted by seanofjapan

Yeah, “if” the Mets had earned an 8% annual return on that money they could have come out ahead.

In reality the Mets owner invested the money in the Bernie Madoff Ponzi scheme and lost it, along with hundreds of millions more, before paying the first dime on the Bonilla deal.

So I stick by my “Mets were stupid” assessment.

Ok. They were stupid for arranging a smart deal that would have allowed them to make a profit absent someone else's fraud. Got it.

[mr2686]

Wow, and he's getting 8 percent interest on all that deferred money. Good thing his agent was better than Bonilla was.

[clydepepper]

Al Hrabosky is got a lot less, but his deferred payments lasted 35 years...


I believe his payments ended recently.

He signed the five-year-contract in 1980 and was released on 8/30/82.


The deferred payments were to start after he retired. Way to go Ted!

https://www.washingtonpost.com/archi...-c1cf304e6b44/

[mantleman]

Just read the article on this one. Smart way to guarantee some income!