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Lobby Okay Sports topic #2204761

Subject: "Bobby Bonilla's pockets straight..." Previous topic | Next topic
ThaTruth
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Tue Jul-02-13 09:03 AM

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"Bobby Bonilla's pockets straight..."


  

          

http://www.cbssports.com/mlb/blog/eye-on-baseball/22600996/july-1-is-bobby-bonillas-day-to-get-paid-by-mets

July 1 is Bobby Bonilla's day to get paid by Mets
By Matt Snyder | Baseball Writer
July 1, 2013 9:05 pm ET

It's July 1, so that means Bobby Bonilla got a check for $1,193,248.20 today, just as he will every July 1 through 2035. That's due to a deferral clause from when the Mets bought out the final year of Bonilla's contract before the 2000 season.
The deal was signed by the Marlins in 1996, but Bonilla was traded to the Dodgers in the 1998 blockbuster that involved Gary Sheffield and Mike Piazza. Bonilla was later flipped to the Mets. He then only played 60 games in 1999, hitting .160/.277/.303, so the Mets saw fit to get rid of him before the 2000 season instead of paying him $5.9 million that year.
And now they'll be paying him a bit more than four times that -- just stretched out over 25 years.

  

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Topic Outline
Subject Author Message Date ID
Mods, can we get an anchor? Just till 2035.
Jul 02nd 2013
1
meh, at the time it made sense.
Jul 02nd 2013
2
sure, if you are being advised by Bernie Madoff.
Jul 02nd 2013
3
      lol, that's actually the only thing that made it go badly
Jul 02nd 2013
6
           well that's the reason that it made sense at the time
Jul 02nd 2013
8
                I don't think the Madoff money had much to do with it
Jul 02nd 2013
10
                     it did, and the deferred money was specifically invested with Madoff
Jul 02nd 2013
12
                     well then...
Jul 02nd 2013
15
                          check this out.
Jul 02nd 2013
16
                     Mets making money from ticket sales and merch? HA!
Jul 01st 2015
63
                          just looked at the date
Jul 01st 2015
64
the fuck?!
Jul 02nd 2013
4
You've never heard this???
Jul 02nd 2013
7
      yeah i think it gets posted every july.
Jul 02nd 2013
9
I think the Islanders just did something like this with DiPietro
Jul 02nd 2013
5
No, they just signed him to a 15 year, $15 million deal
Jul 02nd 2013
11
      Ceej is right. They bought him out. Still pay $1.5m per year till 2029
Jul 02nd 2013
13
      Just bought out, $1.5m till 2029
Jul 02nd 2013
14
THAT BOY SMART!
Jul 02nd 2013
17
This story never gets old n/m
Jul 02nd 2013
18
I wonder if he physically goes up to the stadium to get it lol
Jul 02nd 2013
19
lol
Jul 02nd 2013
20
I laughed too hard at this visual.
Jul 02nd 2013
24
"WILPON! GIVE ME MY MO-NEE!"
Jul 02nd 2013
25
      RE: "WILPON! GIVE ME MY MO-NEE!"
Jul 02nd 2013
27
           lol
Jul 02nd 2013
28
           holy shit
Jul 02nd 2013
32
the Derrick Coleman of baseball
Jul 02nd 2013
21
Oh you lost your shirts in the Madoff mess? Fuck you, pay me.
Jul 02nd 2013
23
      you nailed it
Jul 02nd 2013
48
           lol, no.
Jul 03rd 2013
56
I'm laughing very - fucking - loud right now XD
Jul 02nd 2013
22
no worries, just jack up concessions at citi field a little more
Jul 02nd 2013
26
"Bobby Monerilla" (c) Tim McCarver
Jul 02nd 2013
29
Double play
Jul 02nd 2013
30
Good. Anyone hating on Bobby Bo for this is an asshole.
Jul 02nd 2013
31
This was a stupid move by Bobby. He got fucked royally in this deal.
Jul 02nd 2013
33
http://25.media.tumblr.com/tumblr_lc0pfzqZGB1qeliv2o1_r2_500.gif
Jul 02nd 2013
34
BaBa Booey
Jul 02nd 2013
36
FOH Peter Lynch, he's an ex pro athlete, having a $1mil+/yr...
Jul 02nd 2013
35
9 million is a significant amount of money. I understand what you
Jul 02nd 2013
40
      No shit Sherlock but you're talking about what he COULD'VE HAD...
Jul 02nd 2013
42
      In my mind it is not far out for a man in his position to have the money
Jul 02nd 2013
47
           okayplayer. n/m
Jul 02nd 2013
50
      yes, cause so many athletes make GREAT investments
Jul 01st 2016
73
lol no.
Jul 02nd 2013
37
Base
Jul 02nd 2013
38
WAT
Jul 02nd 2013
39
That Truth posted an articles that explains why the Mets won the deal.
Jul 02nd 2013
41
      That's IF he saved 100% of it and invested in the right things and not.....
Jul 02nd 2013
43
      8% is the standard return not a spectacular Bernie Madoff return.
Jul 02nd 2013
44
           RE: 8% is the standard return not a spectacular Bernie Madoff return.
Jul 02nd 2013
46
           http://oi31.tinypic.com/rrtq9x.jpg
Jul 02nd 2013
51
           a-yo, the fed cartel has held interest rates @ 0% since 2008
Jul 01st 2015
67
      you do realize how silly that article is, right?
Jul 02nd 2013
54
      lol @ investing the whole 5.9
Jul 03rd 2013
55
      ehhh, the market crashed in 2007-08
Jul 01st 2016
74
i wonder how many athletes would disagree with you 13 yrs later
Jul 02nd 2013
53
every time i get down about this season, i remember we're not the mets
Jul 02nd 2013
45
Future's a lot brighter on this end of 95, phriend.
Jul 03rd 2013
57
hi.
Jul 01st 2015
70
Jesus
Jul 02nd 2013
49
great post title
Jul 02nd 2013
52
Happy Bobby Bonilla Day!!!
Jul 01st 2015
58
Damn, LOL
Jul 01st 2015
59
Blasting in his car right now:
Jul 01st 2015
60
and this
Jul 01st 2015
66
Always love this popping back in the news.
Jul 01st 2015
61
ESPN goin out of its way to get the Mets young rotation to resent the or...
Jul 01st 2015
62
      the Mets sure do make it easy for them though.
Jul 01st 2015
68
Anyone rocking a jersey today?
Jul 01st 2015
65
LOL...
Jul 01st 2015
69
Happy Bobby Bonilla Day!
Jul 01st 2016
71
Damn right! He's got two deferred dreams out there...
Jul 01st 2016
72
he might be the smartest athlete ever...lol
Jul 01st 2016
75
got damn
Jul 01st 2016
76
Phils have paid Black Supes $102.5 mil since 2012 for producing -5 WAR
Jul 02nd 2016
77
HBBD
Jul 01st 2017
78
this brings a smile to my face ever year
Jul 01st 2017
79
Direct Deposit hit on a Sunday??
Jul 01st 2018
80
https://goo.gl/WA4LRd
Jul 01st 2018
81
HBBD
Jul 01st 2019
82

Jayson Willyams
Member since Nov 18th 2004
3249 posts
Tue Jul-02-13 09:08 AM

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1. "Mods, can we get an anchor? Just till 2035."
In response to Reply # 0
Tue Jul-02-13 09:08 AM by Jayson Willyams

  

          

.

  

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KosherSam
Member since Mar 18th 2004
70129 posts
Tue Jul-02-13 09:08 AM

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2. "meh, at the time it made sense. "
In response to Reply # 0


  

          

*Jews you*

"this is okp tho, reading is completely optional" (c) desus

Proceed with caution. I am overtly racist.

<-- In Pigpen we trust

  

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Cenario
Member since Aug 24th 2005
56778 posts
Tue Jul-02-13 09:11 AM

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3. "sure, if you are being advised by Bernie Madoff."
In response to Reply # 2


  

          

-The Knicks’ coaching search still includes a lone frontrunner, Kurt Rambis, whose qualifications for the position include a strong relationship with Jackson and a willingness to take the job.

  

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KosherSam
Member since Mar 18th 2004
70129 posts
Tue Jul-02-13 09:22 AM

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6. "lol, that's actually the only thing that made it go badly"
In response to Reply # 3


  

          

baseball teams (especially ones in New York) make money. Prior to the Madoff shit, I wouldn't be surprised if the Mets were making 10% profit most years.

Let's say 8% though, just to be conservative.

Taking the 5.9 million they owed him in 2000, and investing it back in the team until 2035 when they are done paying him, that would be $87 million dollars if it earned at 8%.

They could pay him out of the interest and still make more money than if they just paid him the 5.9 mil up front.

The only reason it seems bad now is because of the money they lost to Madoff, and because most sports talk radio people don't understand accrued interest.

*Jews you*

"this is okp tho, reading is completely optional" (c) desus

Proceed with caution. I am overtly racist.

<-- In Pigpen we trust

  

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Cenario
Member since Aug 24th 2005
56778 posts
Tue Jul-02-13 09:25 AM

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8. "well that's the reason that it made sense at the time"
In response to Reply # 6


  

          

They were raking in money with madoff and assumed they would continue to.

I'm not convinced they do that deal, if they weren't enjoying the profits they were at the time.

-The Knicks’ coaching search still includes a lone frontrunner, Kurt Rambis, whose qualifications for the position include a strong relationship with Jackson and a willingness to take the job.

  

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KosherSam
Member since Mar 18th 2004
70129 posts
Tue Jul-02-13 09:28 AM

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10. "I don't think the Madoff money had much to do with it"
In response to Reply # 8


  

          

I think they were raking in money just from the actual operations of the team. Ticket sales, cable revenue, merch., etc.

*Jews you*

"this is okp tho, reading is completely optional" (c) desus

Proceed with caution. I am overtly racist.

<-- In Pigpen we trust

  

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Cenario
Member since Aug 24th 2005
56778 posts
Tue Jul-02-13 09:33 AM

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12. "it did, and the deferred money was specifically invested with Madoff"
In response to Reply # 10


  

          

Bonilla wasn't the only one but the most egregious.

-The Knicks’ coaching search still includes a lone frontrunner, Kurt Rambis, whose qualifications for the position include a strong relationship with Jackson and a willingness to take the job.

  

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KosherSam
Member since Mar 18th 2004
70129 posts
Tue Jul-02-13 09:35 AM

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15. "well then..."
In response to Reply # 12


  

          

*Jews you*

"this is okp tho, reading is completely optional" (c) desus

Proceed with caution. I am overtly racist.

<-- In Pigpen we trust

  

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Cenario
Member since Aug 24th 2005
56778 posts
Tue Jul-02-13 09:38 AM

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16. "check this out."
In response to Reply # 15


  

          

http://www.nytimes.com/2011/02/02/sports/baseball/02mets.html?pagewanted=all&_r=0

One former executive with the Mets recalled how it could work:

I remember vividly Madoffs name being brought up a lot when the team would negotiate contracts, particularly with deferments, said the former executive, who would not be identified because he did not want to harm his career in baseball. That money would be turned over to Madoff.

The former employees of the Mets said substantial aspects of the clubs financial operations seemed to flow through, or wind up with, Mr. Madoff annuities set up for players, cash generated by sponsorship deals, and more. The team regularly discussed investing deferred money from long-term player contracts in Madoff accounts. Bobby Bonilla was among the players who had their deferred money put with Mr. Madoff, one former employee said.

In those cases, the players would agree to take less money up front and be paid over a number of years, earning interest. It appears the Mets would be able to keep any money earned over that agreed rate, and Mr. Madoff regularly produced returns that outdid prevailing interest rates.

And when the costs of disability insurance spiked, the former employee recalled, the Mets began to self insure. They did it by investing premiums with Mr. Madoff, he said.

-The Knicks’ coaching search still includes a lone frontrunner, Kurt Rambis, whose qualifications for the position include a strong relationship with Jackson and a willingness to take the job.

  

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RobOne4
Member since Jun 06th 2003
56487 posts
Wed Jul-01-15 11:19 AM

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63. "Mets making money from ticket sales and merch? HA!"
In response to Reply # 10


  

          

http://warehousestories.wordpress.com
^^^WORK BLOG
last updated 9-17-08

November 8th, 2005 The greatest night in the history of GD!

  

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RobOne4
Member since Jun 06th 2003
56487 posts
Wed Jul-01-15 11:25 AM

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64. "just looked at the date"
In response to Reply # 63


  

          

FUCK!

http://warehousestories.wordpress.com
^^^WORK BLOG
last updated 9-17-08

November 8th, 2005 The greatest night in the history of GD!

  

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CherNic
Member since Aug 18th 2005
36015 posts
Tue Jul-02-13 09:15 AM

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4. "the fuck?!"
In response to Reply # 0


  

          

  

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Ceej
Member since Feb 16th 2006
65534 posts
Tue Jul-02-13 09:24 AM

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7. "You've never heard this???"
In response to Reply # 4


  

          

cmon

http://i.imgur.com/vPqCzVU.jpg

  

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Cenario
Member since Aug 24th 2005
56778 posts
Tue Jul-02-13 09:25 AM

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9. "yeah i think it gets posted every july."
In response to Reply # 7


  

          

-The Knicks’ coaching search still includes a lone frontrunner, Kurt Rambis, whose qualifications for the position include a strong relationship with Jackson and a willingness to take the job.

  

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Ceej
Member since Feb 16th 2006
65534 posts
Tue Jul-02-13 09:16 AM

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5. "I think the Islanders just did something like this with DiPietro"
In response to Reply # 0


  

          

http://i.imgur.com/vPqCzVU.jpg

  

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magilla vanilla
Member since Sep 13th 2002
17559 posts
Tue Jul-02-13 09:31 AM

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11. "No, they just signed him to a 15 year, $15 million deal"
In response to Reply # 5


  

          

---------------------------------
Photo zine(some images NSFW): http://bit.ly/USaSPhoto

"This (and every, actually) conversation needs more Chesterton and less Mike Francesa." - Walleye

  

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Jayson Willyams
Member since Nov 18th 2004
3249 posts
Tue Jul-02-13 09:33 AM

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13. "Ceej is right. They bought him out. Still pay $1.5m per year till 2029"
In response to Reply # 11


  

          

But at least he's off the salary cap.

http://www.cbssports.com/nhl/blog/eye-on-hockey/22601021/report-rick-dipietro-to-be-bought-out-by-new-york-islanders

  

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Ceej
Member since Feb 16th 2006
65534 posts
Tue Jul-02-13 09:34 AM

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14. "Just bought out, $1.5m till 2029"
In response to Reply # 11


  

          

http://www.cbssports.com/nhl/blog/eye-on-hockey/22601021/report-rick-dipietro-to-be-bought-out-by-new-york-islanders

http://i.imgur.com/vPqCzVU.jpg

  

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Binlahab
Charter member
182507 posts
Tue Jul-02-13 10:16 AM

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17. "THAT BOY SMART!"
In response to Reply # 0


  

          

i like it!


does it even matter?

  

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Bombastic
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88860 posts
Tue Jul-02-13 10:22 AM

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18. "This story never gets old n/m"
In response to Reply # 0


  

          

>http://www.cbssports.com/mlb/blog/eye-on-baseball/22600996/july-1-is-bobby-bonillas-day-to-get-paid-by-mets
>
>July 1 is Bobby Bonilla's day to get paid by Mets
>By Matt Snyder | Baseball Writer
>July 1, 2013 9:05 pm ET
>
>It's July 1, so that means Bobby Bonilla got a check for
>$1,193,248.20 today, just as he will every July 1 through
>2035. That's due to a deferral clause from when the Mets
>bought out the final year of Bonilla's contract before the
>2000 season.
>The deal was signed by the Marlins in 1996, but Bonilla was
>traded to the Dodgers in the 1998 blockbuster that involved
>Gary Sheffield and Mike Piazza. Bonilla was later flipped to
>the Mets. He then only played 60 games in 1999, hitting
>.160/.277/.303, so the Mets saw fit to get rid of him before
>the 2000 season instead of paying him $5.9 million that year.
>And now they'll be paying him a bit more than four times that
>-- just stretched out over 25 years.

  

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PimpTrickGangstaClik
Member since Oct 06th 2005
14323 posts
Tue Jul-02-13 10:26 AM

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19. "I wonder if he physically goes up to the stadium to get it lol"
In response to Reply # 0


  

          

I'd be hitting the George Jefferson walk every July 1st

_______________________________________
You ain't the only one whose got problems. You ain't the only one who knows pain. Get up off your ass and just solve them. You still got a chance to try to change, try the shit again.
Devin tha Dude

  

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Cenario
Member since Aug 24th 2005
56778 posts
Tue Jul-02-13 10:26 AM

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20. "lol"
In response to Reply # 19


  

          

-The Knicks’ coaching search still includes a lone frontrunner, Kurt Rambis, whose qualifications for the position include a strong relationship with Jackson and a willingness to take the job.

  

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Ryan M
Member since Oct 21st 2002
39981 posts
Tue Jul-02-13 12:15 PM

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24. "I laughed too hard at this visual."
In response to Reply # 19


  

          

------------------------------
'19-'20 LA Lakers

James. Davis. Kuzma. Cousins. Rondo. Caldwell-Pope. Green. Cook. Bradley. McGee. Dudley. Caruso...

  

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ThaTruth
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Tue Jul-02-13 01:07 PM

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25. ""WILPON! GIVE ME MY MO-NEE!""
In response to Reply # 19


  

          

  

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Bombastic
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Tue Jul-02-13 03:02 PM

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27. "RE: "WILPON! GIVE ME MY MO-NEE!""
In response to Reply # 25


  

          

http://l.yimg.com/a/p/sp/editorial_image/dc/dcfcada48e5faf68a4f4cc04a0f5a059/ten_things_to_do_with_mr_met_if_you_buy_a_share_of_the_mets.jpg

  

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Cenario
Member since Aug 24th 2005
56778 posts
Tue Jul-02-13 03:09 PM

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28. "lol"
In response to Reply # 27


  

          

-The Knicks’ coaching search still includes a lone frontrunner, Kurt Rambis, whose qualifications for the position include a strong relationship with Jackson and a willingness to take the job.

  

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3xKrazy
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19432 posts
Tue Jul-02-13 05:30 PM

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32. "holy shit"
In response to Reply # 27


          

im dying lol

  

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mistermaxxx08
Member since Dec 31st 2010
16076 posts
Tue Jul-02-13 11:20 AM

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21. "the Derrick Coleman of baseball"
In response to Reply # 0


          

he had the goods and at time looked like he might be arguably an all time great. anyway the way he gets paid for life is like the owner of the restaraunt in goodfellas who turns the club over to paulie, no matter what happens the mets gotta pay bobby bo

mistermaxxx R.Kelly, Michael Jackson,Stevie wonder,Rick James,Marvin Gaye,El Debarge, Barry WHite Lionel RIchie,Isleys EWF,Lady T.,Kid creole and coconuts,the crusaders,kc sunshine band,bee gees,jW,sd,NE,JB

Miami Heat, New York Yankees,buffalo bills

  

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Bombastic
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88860 posts
Tue Jul-02-13 12:03 PM

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23. "Oh you lost your shirts in the Madoff mess? Fuck you, pay me."
In response to Reply # 21


  

          

your team's a walking dumpster fire? Fuck you, pay me.

That last Brewer series at Chiti Field only averaged 14K a night? Fuck you, pay me.(c)BobbyBoCicero

  

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mistermaxxx08
Member since Dec 31st 2010
16076 posts
Tue Jul-02-13 10:21 PM

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48. "you nailed it"
In response to Reply # 23


          

i mean he got the Mets in a place where they have to burn things down. smart move

mistermaxxx R.Kelly, Michael Jackson,Stevie wonder,Rick James,Marvin Gaye,El Debarge, Barry WHite Lionel RIchie,Isleys EWF,Lady T.,Kid creole and coconuts,the crusaders,kc sunshine band,bee gees,jW,sd,NE,JB

Miami Heat, New York Yankees,buffalo bills

  

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KosherSam
Member since Mar 18th 2004
70129 posts
Wed Jul-03-13 08:38 AM

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56. "lol, no."
In response to Reply # 48


  

          

yeah, the mets suck. yeah the mets are a joke.

but if you think that the mets have to tear down their roster and start over with cheaper players because they have to pay Bobby 1.2 million a year, you have no idea what you're talking about.

*Jews you*

"this is okp tho, reading is completely optional" (c) desus

Proceed with caution. I am overtly racist.

<-- In Pigpen we trust

  

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mtbatol
Member since May 22nd 2002
19788 posts
Tue Jul-02-13 11:49 AM

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22. "I'm laughing very - fucking - loud right now XD"
In response to Reply # 0


          

VERY VERY LOUD!! XD

  

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3xKrazy
Charter member
19432 posts
Tue Jul-02-13 01:31 PM

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26. "no worries, just jack up concessions at citi field a little more"
In response to Reply # 0


          

mets put a fantastic product out there, it's totally worth it

  

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micMajestic
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29. ""Bobby Monerilla" (c) Tim McCarver"
In response to Reply # 0


  

          


_________________________________________
The Combat Jack Show is the best hip-hop related internet radio show
http://thecombatjackshow.com/

Gumbo, gris-gris, plus my etouffee got em paying 20 bones

  

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micMajestic
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30. "Double play"
In response to Reply # 0
Tue Jul-02-13 04:34 PM by micMajestic

  

          

_________________________________________
The Combat Jack Show is the best hip-hop related internet radio show
http://thecombatjackshow.com/

Gumbo, gris-gris, plus my etouffee got em paying 20 bones

  

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spawn2k
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31. "Good. Anyone hating on Bobby Bo for this is an asshole."
In response to Reply # 0


          

men are so simple, and so subject to present necessities, that he who seeks to deceive will always find someone who will allow himself to be deceived. (c)Niccol Machiavelli

  

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BISON CLASS of 97
Member since Oct 19th 2004
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33. "This was a stupid move by Bobby. He got fucked royally in this deal."
In response to Reply # 0


  

          

All of the core financial principles state if you are not earning interest on the money you want to get the money under your control as soon as possible. Even if he earned interest was it greater than what he could have reasonably expected to earn between the time he signed the deal and now? The Time Value of Money states- - The time value of money is the value of money with a given amount of interest earned or inflation accrued over a given amount of time. The ultimate principle suggests that a certain amount of money today has different buying power than the same amount of money in the future. This notion exists both because there is an opportunity to earn interest on the money and because inflation will drive prices up, thus changing the "value" of the money. The time value of money is the central concept in finance theory.

We don't know all of the details but but on the surface to me this looks like a fucked up deal for Bobby.

"I'm one of the world's great survivors. I'll always survive because I've got the right combination of wit, grit and bullshit."

© Don King

  

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Bombastic
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34. "http://25.media.tumblr.com/tumblr_lc0pfzqZGB1qeliv2o1_r2_500.gif"
In response to Reply # 33


  

          

http://25.media.tumblr.com/tumblr_lc0pfzqZGB1qeliv2o1_r2_500.gif

  

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Ceej
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36. "BaBa Booey"
In response to Reply # 34


  

          

http://i.imgur.com/vPqCzVU.jpg

  

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ThaTruth
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35. "FOH Peter Lynch, he's an ex pro athlete, having a $1mil+/yr..."
In response to Reply # 33


  

          

guaranteed until you're 73 is a good look.

The lump-sum interest would've only been an extra $9mil IF he had saved and invested it all until he was 73...http://www.seattlepi.com/technology/businessinsider/article/CHART-The-Crazy-Contract-The-Mets-Gave-Bobby-4643113.php

  

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BISON CLASS of 97
Member since Oct 19th 2004
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40. "9 million is a significant amount of money. I understand what you"
In response to Reply # 35


  

          

saying but the fact the remains he could have done some basic things with that money and got a greater return over the same period time. We have no way of knowing if he would have invested his money but he could have with a very real possibility of making more money over the same period of time.

"I'm one of the world's great survivors. I'll always survive because I've got the right combination of wit, grit and bullshit."

© Don King

  

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ThaTruth
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42. "No shit Sherlock but you're talking about what he COULD'VE HAD..."
In response to Reply # 40


  

          

at 70 fucking three vs some GUARANTEED shit all the way up to that point.

What if he doesn't live until he's 73 or his health is deteriorated to the point that it doesn't matter?

  

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BISON CLASS of 97
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47. "In my mind it is not far out for a man in his position to have the money"
In response to Reply # 42


  

          

invested properly for an extended period of time.

"I'm one of the world's great survivors. I'll always survive because I've got the right combination of wit, grit and bullshit."

© Don King

  

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ThaTruth
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50. "okayplayer. n/m"
In response to Reply # 47


  

          

  

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legsdiamond
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73. "yes, cause so many athletes make GREAT investments"
In response to Reply # 40


          

shut up already, damn

  

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Cenario
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37. "lol no."
In response to Reply # 33


  

          

-The Knicks’ coaching search still includes a lone frontrunner, Kurt Rambis, whose qualifications for the position include a strong relationship with Jackson and a willingness to take the job.

  

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Ceej
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38. "Base"
In response to Reply # 37


  

          

http://i.imgur.com/vPqCzVU.jpg

  

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Kira
Member since Nov 14th 2004
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39. "WAT"
In response to Reply # 33


  

          

Bobby receives $1 million a year for doing nothing. Your criticism is pointless.

No empathy for white misery (c) BDot

  

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BISON CLASS of 97
Member since Oct 19th 2004
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41. "That Truth posted an articles that explains why the Mets won the deal."
In response to Reply # 39


  

          

http://www.seattlepi.com/technology/businessinsider/article/CHART-The-Crazy-Contract-The-Mets-Gave-Bobby-4643113.php


Bobby Bonilla's contract of deferred payments from the New York Mets is considered a laughing stock amongst baseball fans as the Mets chose to give Bonilla 25 payments totaling $29.8 million (starting in 2011) instead of the $5.9 million they owed him in 2000.

But to criticize the deal is to not understand that Bonilla gained nothing and the Mets actually came out ahead in the deal.

If Bonilla had accepted the $5.9 million in 2000 and invested the entire amount at 8% interest, the original investment would have grown to $104.1 million by 2035* (blue line in chart below). If instead, Bonilla takes his annual payment and invests that with an 8% annual return, he would have $95.2 million by 2035 (orange line in chart below).

In other words, Bonilla lost nearly $10 million by taking the payments instead of the lump sum.



"I'm one of the world's great survivors. I'll always survive because I've got the right combination of wit, grit and bullshit."

© Don King

  

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ThaTruth
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43. "That's IF he saved 100% of it and invested in the right things and not....."
In response to Reply # 41


  

          

some Madoff shit or a million other things people lost MAJOR money in the recent recession.

  

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BISON CLASS of 97
Member since Oct 19th 2004
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44. "8% is the standard return not a spectacular Bernie Madoff return. "
In response to Reply # 43


  

          

He could have been like millions of responsible adults around the world and put that money in some basic shit and watched his paper stack. By 2000 he had made over 48 million dollars from playing baseball he could have easily put that money away.

"I'm one of the world's great survivors. I'll always survive because I've got the right combination of wit, grit and bullshit."

© Don King

  

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ThaTruth
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46. "RE: 8% is the standard return not a spectacular Bernie Madoff return. "
In response to Reply # 44


  

          

>He could have been like millions of responsible adults around
>the world and put that money in some basic shit and watched
>his paper stack.

OR he could've lost nearly everything like millions of people "responsible adults" did in the recent recession.

>By 2000 he had made over 48 million dollars
>from playing baseball he could have easily put that money
>away.

lol, you act like he had all out that money just sitting in the bank. After taxes, agent and attorney fees etc he might have had half of that to spend over the course of his 15 year playing career

  

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Bombastic
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51. "http://oi31.tinypic.com/rrtq9x.jpg"
In response to Reply # 44


  

          

http://oi31.tinypic.com/rrtq9x.jpg

  

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Flash80
Member since Jan 03rd 2007
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67. "a-yo, the fed cartel has held interest rates @ 0% since 2008"
In response to Reply # 44


          

merely parking it somewhere hasn't worked.

that's why the stock market's in another bubble. there's nowhere else for the 1% to park its money at the moment but there.. so we have inflated asset prices to go along with record margin debt.

8% could be if he'd actually invested with an above-average hedge fund/wealth mgmt (most can't even beat the s&p 500, btw.)

i think bobby b's doing ok.

  

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V3rb
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54. "you do realize how silly that article is, right? "
In response to Reply # 41
Tue Jul-02-13 11:44 PM by V3rb

  

          

.

http://hypevercab.bandcamp.com

  

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Cenario
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55. "lol @ investing the whole 5.9"
In response to Reply # 41


  

          

IF he wanted to do that, he coulda invested each million for the 1st 6 years at that *8%* return and pocketed the $1million they gave him every year after that.

-The Knicks’ coaching search still includes a lone frontrunner, Kurt Rambis, whose qualifications for the position include a strong relationship with Jackson and a willingness to take the job.

  

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legsdiamond
Member since May 05th 2011
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74. "ehhh, the market crashed in 2007-08"
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shut up already, damn

  

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gusto
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53. "i wonder how many athletes would disagree with you 13 yrs later"
In response to Reply # 33


  

          

..|.,

If you still don't know what Jade Typhoon is, click here:
http://jadetyphoon.blogspot.com/ (WS)

  

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bshelly
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45. "every time i get down about this season, i remember we're not the mets"
In response to Reply # 0


  

          

it can always get worse.

----
bshelly

"You (Fisher) could get fired, Les Snead could get fired, Kevin Demoff could get fired, but I will always be Eric Dickerson.” (c) The God

  

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Jayson Willyams
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57. "Future's a lot brighter on this end of 95, phriend."
In response to Reply # 45


  

          

  

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40thStreetBlack
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70. "hi."
In response to Reply # 45


  

          

>it can always get worse.

Shellstradamus!

<------- Ursus PeteAlonsimus

  

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vik
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49. "Jesus "
In response to Reply # 0


  

          

At least Knicks fans don't necessarily cheer for the Mets?

But hell, what do I know?

  

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Deebot
Member since Oct 21st 2004
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52. "great post title"
In response to Reply # 0


  

          

================================

"Brownsville, never ran never will unless you strapped and I'm not fuck it I gotta peel, P!"

-Sean Price

  

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Ceej
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58. "Happy Bobby Bonilla Day!!! "
In response to Reply # 0


  

          

http://i.imgur.com/vPqCzVU.jpg

  

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RexLongfellow
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59. "Damn, LOL"
In response to Reply # 58


  

          

That's some grade A uppage

  

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Castro
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60. "Blasting in his car right now:"
In response to Reply # 58


  

          



https://www.youtube.com/watch?v=6IJCFc_qkHw


"HONEY I'M GOING TO THA BANK. ITS THAT DAY"

------------------
One Hundred.

  

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Nick Has a Problem...Seriously
Member since Dec 25th 2010
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66. "and this"
In response to Reply # 60


  

          

https://www.youtube.com/watch?v=MkNE40qk-FE

****************************************
Falcons, Braves, Bulldogs and Hawks

"Dude just seems like he's been chosen for some reason. Maybe he did a backspin for Oprah or something." micMajestic

http://www.discogs.com/user/buhloone

  

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pretentious username
Member since Jun 18th 2010
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61. "Always love this popping back in the news."
In response to Reply # 58


  

          

  

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Ceej
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62. "ESPN goin out of its way to get the Mets young rotation to resent the or..."
In response to Reply # 61


  

          

http://i.imgur.com/vPqCzVU.jpg

  

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pretentious username
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68. "the Mets sure do make it easy for them though."
In response to Reply # 62


  

          

  

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Deebot
Member since Oct 21st 2004
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65. "Anyone rocking a jersey today?"
In response to Reply # 58


  

          

================================

"Brownsville, never ran never will unless you strapped and I'm not fuck it I gotta peel, P!"

-Sean Price

  

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CyrenYoung
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69. "LOL..."
In response to Reply # 0


  

          

..can't help but grin about this every year.


*skatin' the rings of saturn*


..and miles to go before i sleep...

  

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ThaTruth
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71. "Happy Bobby Bonilla Day!"
In response to Reply # 0


  

          

  

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Creole
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72. "Damn right! He's got two deferred dreams out there..."
In response to Reply # 71


  

          

http://espn.go.com/mlb/story/_/id/16650867/why-mets-pay-bobby-bonilla-119-million-today-every-july-1-2035

"And now get ready for the real kicker. Gilbert recently sat down with ESPN for a new digital series for FiveThirtyEight, "Contracts," debuting later this summer. He said that Bonilla actually has another deferred deal with the Mets that makes another $12.5 million. It was part of his first deal with the team that ran from 1992 to 1996. The $29 million deal made Bonilla the highest-salaried player in baseball at the time. Part of the deal was to defer some money, which resulted in Bonilla getting $500,000 a year from 2004 through 2023. The Mets shipped Bonilla to the Orioles for the last season and a half of that deal, so they split the fare with Baltimore."

  

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legsdiamond
Member since May 05th 2011
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75. "he might be the smartest athlete ever...lol"
In response to Reply # 72


          

cause 99% of athletes would have said fuck you, pay me my $5.9 mill

shut up already, damn

  

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Rjcc
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76. "got damn"
In response to Reply # 72


  

          


www.engadgethd.com - the other stuff i'm looking at

  

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40thStreetBlack
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77. "Phils have paid Black Supes $102.5 mil since 2012 for producing -5 WAR "
In response to Reply # 71


  

          

the total salary for a player earning the major league minimum over that time is $2.23 million. So Philly has paid Howard $100 million dollars more over the past 4 1/2 years for worse production than they'd have gotten from a random scrub making minimum salary. Mets paying Bonilla is a bargain by comparison.

<------- Ursus PeteAlonsimus

  

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Ceej
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78. "HBBD"
In response to Reply # 0


  

          

http://i.imgur.com/vPqCzVU.jpg

  

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Kungset
Member since Mar 29th 2004
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79. "this brings a smile to my face ever year"
In response to Reply # 0


  

          

  

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Ceej
Member since Feb 16th 2006
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80. "Direct Deposit hit on a Sunday??"
In response to Reply # 0


  

          

http://i.imgur.com/vPqCzVU.jpg

  

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Castro
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81. "https://goo.gl/WA4LRd"
In response to Reply # 80


  

          

https://goo.gl/WA4LRd

------------------
One Hundred.

  

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Ryan M
Member since Oct 21st 2002
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82. "HBBD"
In response to Reply # 0


  

          

------------------------------
'19-'20 LA Lakers

James. Davis. Kuzma. Cousins. Rondo. Caldwell-Pope. Green. Cook. Bradley. McGee. Dudley. Caruso...

  

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