Happy Bobby Bonilla Day

[SWC75]

Bobby won.

He should get in the Hall of Fame just for negotiating that contract.

 

[PoppyHart]

He probably sold off his future rights to JG Wentworth a long time ago.

 

[OrangeXtreme]

 

[SWC75]

It's Bobby Bonilla Day! Here's why the former Met gets paid $1.19M today and every July 1

Bobby Bo hasn't played for the Mets since 1999, but Saturday he'll receive a hefty check from his former employer. Here's what you need to know about the unusual annual payday.

www.espn.com

 

[OburgOrange]

 

[OburgOrange]

 

[SWC75]

Chris might be back, for the moment:

MSN

www.msn.com

Would $49.8 million buy them Ohtani?

 

[OrangeXtreme]

 

[OburgOrange]

 

[sutomcat]

I will be happy on July 1st, 2036, when I don't have to read 'Happy Bobby Bonilla Day' any longer.

This assume I am still alive, which is not be a given. Heck, Bobby might not be alive any longer...

 

[upperdeck]

the number of guys with these deferred contracts is pretty scary when you look them all up.

 

[Hoo's That]

I've heard the only reason it cuts off in 2035 is the legal rule against perpetuities.

 

[SWC75]

I'm sure Bobby is happy this day and many others. As I recall, the Wilpons were pocketing the money they saved and not spending it on making the Mets better. They then gave it to Bernie to invest and he Madoff with it.

 

[kirbivore]

I'm sure Bobby is happy this day and many others. As I recall, the Wilpons were pocketing the money they saved and not spending it on making the Mets better. They then gave it to Bernie to invest and he Madoff with it.

Yup. With the spread from the interest rate on the annuities to pay the deferred salary vs. Madoff's returns, it was a no brainer . Arbitrage!

 

[DoubleDee]

Don't forget the Orioles on this day still pay $500K through 2028.

 

[OrangeXtreme]

 

[Cowtown]

Bobby won.

 

[orange79]

Best.

Contract.

Ever.

 

[Cusefan95]

It’ll be interesting to see the impact of contracts like Shohei Ohtani’s with massive deferrals that make $1.1MM/yr look trivial. With no restrictions on how much can be deferred and AAV being calculated in present day value, there’s a huge incentive to defer as much as possible. Players who insist on getting their money now are putting their team at a competitive disadvantage - we may see more cases like Aaron Rogers where an athlete insists on top dollar now but hamstrings his team’s ability to get assets around him.