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Happy Bobby Bonilla Day


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I think the contracts can be smart for the clubs and players. If it helps you afford a player that you normally couldn't sign, then go for it. In the grand scheme of things that $1,000,000 the Mets are paying Bobby Bo, is less than a blip on their payroll budget today. 

 

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14 hours ago, Jumper_Dad said:

I think the contracts can be smart for the clubs and players. If it helps you afford a player that you normally couldn't sign, then go for it. In the grand scheme of things that $1,000,000 the Mets are paying Bobby Bo, is less than a blip on their payroll budget today. 

 

Correct. Also a minor blip in today's day in age: the approximate $5MM they could have paid him when this all started and that would have been the end of it.

Edited by bugatti
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25 minutes ago, bugatti said:

Correct. Also a minor blip in today's day in age: the approximate $5MM they could have paid him when this all started and that would have been the end of it.

Yeah, for that small of an amount it made no sense...but I guess they had their reasons.

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4 minutes ago, Jumper_Dad said:

Yeah, for that small of an amount it made no sense...but I guess they had their reasons.

All about money. The owners,  instead of buying out the $5.9MM owed to Bonilla, set up his deferment contract (at 8% interest) so they could give the money to their financial guy for investment purposes. That guy: Bernie Madoff. Yes, that Bernie Madoff. Needless to say, that money was rolled into the Ponzi scheme Madoff was running and the Mets' owners kissed that money good-bye as well as the near $30MM they will end up paying Bonilla when the contract expires in 2036.

There are other deferred contracts in baseball, btw.

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