Happy Bobby Bonilla Day!

[edhunter]

It's July 1, so that means a 1.2mil payday for the man who hasn't played since 2000. He's gotten the payment every year since 2011 and will get them through 2035. The Mets wanted to cut him in 1999, but still owed him 6 million dollars. His agent offered the deferral plan and the Mets owners Fred and Jeff Wilpon jumped at it.

 

It gave them an instant 6 million more to invest....with Bernie Madoff.

[pjbear05]

And this was his second round with the Mets. After a go with Pittsburgh, and getting a ring with the Marlins. Not too shabby! :laughing guy:

[invisible airwave]

And this was his second round with the Mets. After a go with Pittsburgh, and getting a ring with the Marlins. Not too shabby! :laughing guy:

 

And O’s and Dodgers. I actually saw the Dodgers play the Padres the season he was on the team and Padres became NL champs. The Pads won 4-1 on July 11,1998.

[zepphead]

It's July 1, so that means a 1.2mil payday for the man who hasn't played since 2000. He's gotten the payment every year since 2011 and will get them through 2035. The Mets wanted to cut him in 1999, but still owed him 6 million dollars. His agent offered the deferral plan and the Mets owners Fred and Jeff Wilpon jumped at it.

 

It gave them an instant 6 million more to invest....with Bernie Madoff.

Wish i could get a job like that ...... doh! .. i can't play baseball ..... but wait .... this job requires no playing!!!

[Syrinx]

one of the greatest contracts ever!

[laughedatbytime]

one of the greatest contracts ever!

Probably not among the five worst contracts of anyone being paid by the team this year.

[edhunter]

Apparently Bruce Sutter has a similar deal with the Braves, and his has been for an even longer period. And his original payoff would have only been about 3 million.

[laughedatbytime]

The best deal of this type was made by the Spirits of St. Louis in the old ABA. As part of the NBA-ABA merger in 1976 they got 2% of the TV revenues of the NBA in perpetuity. This turned out to be $186 million through 2011 when there was a buyout of the deal for $500 million. Two other teams folded after taking a buyout offer of $ 3 million. Edited July 2, 2020 by laughedatbytime

[Principled Man]

Ryan Braun is probably in his last year with the Brewers. There is a buyout option for 2021.

After that, he gets $1.8 million every year from 2022-2030

 

After Christian Yelich's mega-contract ends, he will be getting $2.333 million every year from 2031-2040

 

 

Madness.....

[goose]

Apparently Bruce Sutter has a similar deal with the Braves, and his has been for an even longer period. And his original payoff would have only been about 3 million.

"...the Braves are still paying former reliever Bruce Sutter, who played with the Braves from 1985 to 1988. The 1979 NL Cy Young Winner signed a six-year, $9.1 million deal with the Braves before the 1985 season, but Sutter opted to have the money deferred.

“Sutter was only paid about $750,000 per year while under the Braves’ control,” Lewis wrote. “For the thirty years after he retired — 30!!! — the Braves agreed to pay him no less than $1.12 million per year, and potentially more if interest rates spiked above a negotiated floor of 12.3 percent.That ends in 2021..."

 

https://www.ledger-e...e213840114.html

 

Humorous footnote:

 

"Sutter retired four years into his six-year deal with the Braves, but as Lewis explained, Sutter still received his money because Atlanta agreed to pay the $9.1 million in full when the contract was agreed to. As a pretty funny, and obviously unintended side effect, Sutter ended up getting his negotiated ‘salary’ in both 1989 and 1990, even though he was retired,”

Edited July 11, 2020 by goose

[laughedatbytime]

Apparently Bruce Sutter has a similar deal with the Braves, and his has been for an even longer period. And his original payoff would have only been about 3 million.

"...the Braves are still paying former reliever Bruce Sutter, who played with the Braves from 1985 to 1988. The 1979 NL Cy Young Winner signed a six-year, $9.1 million deal with the Braves before the 1985 season, but Sutter opted to have the money deferred.

“Sutter was only paid about $750,000 per year while under the Braves’ control,” Lewis wrote. “For the thirty years after he retired — 30!!! — the Braves agreed to pay him no less than $1.12 million per year, and potentially more if interest rates spiked above a negotiated floor of 12.3 percent.That ends in 2021..."

 

https://www.ledger-e...e213840114.html

Hope they had Hillary Clinton do their investing for them. Not sure how else you get a 12.3% return on your $ these days.

Edited July 11, 2020 by laughedatbytime

[Mithrandir]

Apparently Bruce Sutter has a similar deal with the Braves, and his has been for an even longer period. And his original payoff would have only been about 3 million.

"...the Braves are still paying former reliever Bruce Sutter, who played with the Braves from 1985 to 1988. The 1979 NL Cy Young Winner signed a six-year, $9.1 million deal with the Braves before the 1985 season, but Sutter opted to have the money deferred.

“Sutter was only paid about $750,000 per year while under the Braves’ control,” Lewis wrote. “For the thirty years after he retired — 30!!! — the Braves agreed to pay him no less than $1.12 million per year, and potentially more if interest rates spiked above a negotiated floor of 12.3 percent.That ends in 2021..."

 

https://www.ledger-e...e213840114.html

Hope they had Hillary Clinton do their investing for them. Not sure how else you get a 12.3% return on your $ these days.

Are you kidding me? Just ask THE DONALD how to make that much. He's a financial genius isn't he?