July 2, 201313 yr @AdamRubinESPN: If it's July 1, that means the #Mets owe Bobby Bonilla $1,193,248.20 today ... and each July 1 through 2035.
July 2, 201313 yr @AdamRubinESPN: If it's July 1, that means the #Mets owe Bobby Bonilla $1,193,248.20 today ... and each July 1 through 2035. Poor Mets.
July 2, 201313 yr $1,193.248.00 ain't all that great. It's the 20 cents at the end that puts it over the top.
July 2, 201313 yr I had to look up why. From Wikipedia: "After a subpar season in 1999, the Mets released Bonilla, but still owed him $5.9 million. The team had to get him off their book in order to sign another player, so they worked out a deal: If Bonilla would defer payment for a decade, they would pay him an annuity worth far more than the $5.9 million. Bonilla accepted the offer, resulting in an annual paycheck of $1.19 million starting in 2011 and ending in 2035." That is the dumbest thing I've ever heard of a team doing.
July 2, 201313 yr I had to look up why. From Wikipedia: "After a subpar season in 1999, the Mets released Bonilla, but still owed him $5.9 million. The team had to get him off their book in order to sign another player, so they worked out a deal: If Bonilla would defer payment for a decade, they would pay him an annuity worth far more than the $5.9 million. Bonilla accepted the offer, resulting in an annual paycheck of $1.19 million starting in 2011 and ending in 2035." That is the dumbest thing I've ever heard of a team doing. So instead of paying him 5.9 million dollars they thought paying him 29.75 million dollars was a better option. WHAT THE!!!!!!!
July 2, 201313 yr I remember reading about this deal in an article a year ago maybe. Who in the world came up with this idea? If it was Bonilla's agent, then great for him.
July 2, 201313 yr What player did they sign after getting Bonilla off the books? That's the better question.
July 2, 201313 yr I'll disappear from my job for FAR, FAR less. I would have done it for $1,193,248.00 per year.
July 2, 201313 yr A fascinating article: How Bobby Bonilla Landed The Luckiest Baseball Contract Ever | Celebrity Net Worth
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