Today, the New York Mets will pay Bobby Bonilla another installment of $1,193,248.20.
Every July 1, from 2011 to 2035, the Mets make the payment as part of deferring the $5.9 million the Mets owed him from the 2000 season, a year in which he didn't play for the team, because they released him in January. As noted last year, Bonilla's agent worked out a deal that deferred payment (with an 8 percent annual interest rate).
With eight payments now in, Bonilla has now collected $9,545,986.60. There are 18 more payments due to Bonilla through 2035. When all the payments are made, Bonilla will have turned that $5.9 million into $29.8 million.
But that's not all.
Bonilla also has deferred money that is being paid by the Mets and the Baltimore Orioles, who took Bonilla for the final year and a half (1995 and 1996) of his first Mets contract, a five-year deal signed in December 1991 for $29 million.
The two teams split a $12.5 million payment which comes in 25 installments. That deal started in 2004, so Bonilla has received 14 payments worth a total of $7 million, and he will receive another $5.5 million through 2028.
So to recap, Bonilla has already received $15.3 million in deferred money. Over the next 18 years, he has another $27 million to go.
All this looks even better from his home in Sarasota, Florida, where there's no state income tax.
Happy Bobby Bonilla Day!
Happy Bobby Bonilla Day!
Beware of fools & trolls here, they lurk everywhere.
Re: Happy Bobby Bonilla Day!
take my advice..LEARN HOW TO PLAY BASEBALL!!!!
Re: Happy Bobby Bonilla Day!
Thank Bernie Madoff for making it all happen
We've got 'Such a Deal' for you ..
We've got 'Such a Deal' for you ..
Forever .. Goat Path
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Re: Happy Bobby Bonilla Day!
Do you guys know how many other players have similar deals? It not that uncommon a thing....btw if not for this deferred payment David Wright would not have been a Met so I would call it a net positive.
Re: Happy Bobby Bonilla Day!
I know Manny Rameriz has something similar.daytripper wrote:Do you guys know how many other players have similar deals? It not that uncommon a thing....btw if not for this deferred payment David Wright would not have been a Met so I would call it a net positive.
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Re: Happy Bobby Bonilla Day!
http://mlb.nbcsports.com/2015/07/01/bob ... the-worst/" onclick="window.open(this.href);return false;
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Re: Happy Bobby Bonilla Day!
This. Mets still stink.bruceol wrote:take my advice..LEARN HOW TO PLAY BASEBALL!!!!