Happy Bobby Bonilla Day

[stuball888]

Wish I could get 1.2 Million a year till 2035

[triplec2195]

Don't we all just one of the many bad contracts given over the years.

[cactus]

Bonilla was one of the winners in the Madoff fiasco

[stuball888]

They could’ve paid him $5.9 million in a buyout. Instead they chose 1.2 million over 30 years.

[Captain]

It was a brilliant idea from the agent/accountant for Bonilla.
I wonder if they had to talk Bonilla into agreeing to it. I think the brains behind the deal should be getting a piece of this remarkable deal every year.

[EvanJ]

They could’ve paid him $5.9 million in a buyout. Instead they chose 1.2 million over 30 years.

He gets 25 years of payments through 2023, and $500,000 shared by the Mets and Baltimore through 2028. He will be paid through age 72, so in addition to his millions from MLB, he will eligible for Social Security then. Bonilla's contract with deferred money was modeled after Bret Saberhagen, who the Mets are still paying. Current Met Max Scherzer gets $43,333,333 this year, $43,333,333 from a player option for next year (he won't opt out because he wouldn't get more as a free agent), and $105 million from Washington.

ESPN wrote about young stars who make less than Bonilla does.

[cactus]

They could’ve paid him $5.9 million in a buyout. Instead they chose 1.2 million over 30 years.

It calculated to somewhere around 8% per year. Seemed "smart" at the time because the Wilpons could make money on the yearly payments - they would get a consistent 15%+ a year by investing the $5.9 million with Madoff instead. Until they didn't.

[Wags]

Strange how names fit sometimes... Madoff (made off with people's money), the guy who for so many years, spent a lot of money on the Yankees... Cashman (Cash Man).