Happy Bobby Bonilla Day

[Tranquility Base]

Enjoy them while they last.  Only 11 more to go.

https://www.espn.com/mlb/story/_/I'd/40430232/bobby-bonilla-day-2024-new-york-mets-pay-119-million-every-july-1-ohtani-contract-deferred-money

[Voice of Reason]

4 minutes ago, Tranquility Base said:

Enjoy them while they last.  Only 11 more to go.

https://www.espn.com/mlb/story/_/I'd/40430232/bobby-bonilla-day-2024-new-york-mets-pay-119-million-every-july-1-ohtani-contract-deferred-money

Ironically I guess, this doesn't seem that outrageous any more.

[TheDeuce]

10 hours ago, Voice of Reason said:

Ironically I guess, this doesn't seem that outrageous any more.

I mean looking at Shohei's contract, that is significantly worse from an organization stand point than Bonilla's is. 

[nkypete]

I work with someone who is a die hard Mets fan.  I have it marked on my calendar every year to mock him and his team.

[theguru]

[Voice of Reason]

The Mets almost certainly aren't actually paying this money out themselves every year. They probably bought an annuity when they did the deal. Paid up front to the annuity company and now the annuity company is cutting the annual check. Total payout to Bonilla $30M and the Mets perhaps bought that for maybe $20M way back when.

[Jumper_Dad]

The Mets thought paying him what was owed at an 8% interest rate was a great deal at the time. Afterall they were looking to make a boatload of money from their investments with Bernie Madoff. 😆 🤣 😂 

[16thBBall Fan]

Hey everyone, this pertains to the Bobby Bonilla Day. July 1 actually marks the end of the same set up the Reds had with Ken Griffey Jr. On July 1 the Reds made the last of their deferral of Griffey's $57.5 million over the past 16 years ended with a check for $3,593,750. The deferred contract included 4% interest for Griffey allowing the Reds to be able to spend more money on their current payroll.