Front Office Football Central  

Go Back   Front Office Football Central > Main Forums > Off Topic
Register FAQ Members List Calendar Mark Forums Read Statistics

Reply
 
Thread Tools
Old 07-01-2019, 12:06 PM   #1
Ben E Lou
Morgado's Favorite Forum Fascist
 
Join Date: Oct 2000
Location: Greensboro, NC
Happy Bobby Bonilla Day!!!

He still has 10 more years.



Happy Bobby Bonilla Day! Why Mets pay him $1.19M every July 1
__________________
The media don't understand the kinds of problems and pressures 54 million come wit'!

Ben E Lou is offline   Reply With Quote
Old 07-01-2019, 12:11 PM   #2
QuikSand
lolzcat
 
Join Date: Oct 2000
Location: Annapolis, Md
the best
QuikSand is offline   Reply With Quote
Old 07-01-2019, 12:14 PM   #3
Ben E Lou
Morgado's Favorite Forum Fascist
 
Join Date: Oct 2000
Location: Greensboro, NC
I misread the article. he still has 16 more years. He'll be 72 when he stops getting his mil.
__________________
The media don't understand the kinds of problems and pressures 54 million come wit'!
Ben E Lou is offline   Reply With Quote
Old 07-01-2019, 12:18 PM   #4
tarcone
Grizzled Veteran
 
Join Date: Jul 2004
Location: Pacific
What a fantastic contract.

I wonder if Kirk Ferentz has the same one.
__________________
The word is Fight! Fight! Fight! For Iowa

FOFC 30 Dollar Challenge Champion-OOTP '15
tarcone is offline   Reply With Quote
Old 07-01-2019, 12:19 PM   #5
kurtism
High School Varsity
 
Join Date: Mar 2001
Location: Noblesville
His agent belongs in the Hall of Fame
kurtism is offline   Reply With Quote
Old 07-01-2019, 12:21 PM   #6
QuikSand
lolzcat
 
Join Date: Oct 2000
Location: Annapolis, Md
As an aside, I love the psychology of this.

Lots of guys have gotten absurdly fat contracts. We all get that. It's something about the fact that they are still writing checks to this clown today that makes it so delicious, right? But all things considered, he is worse off getting $48m stretched out over 40 years, than he would have gotten from getting it all up front, which would be more conventional. If he had gotten a lump sum, ran through $8 million of it on hookers and blow or whatever, and invested the other $40m into the S&P 500, he'd be sitting on over $300m now.
QuikSand is offline   Reply With Quote
Old 07-01-2019, 12:32 PM   #7
cartman
Death Herald
 
Join Date: Nov 2000
Location: Le stelle la notte sono grandi e luminose nel cuore profondo del Texas
Quote:
Originally Posted by QuikSand View Post
As an aside, I love the psychology of this.

Lots of guys have gotten absurdly fat contracts. We all get that. It's something about the fact that they are still writing checks to this clown today that makes it so delicious, right? But all things considered, he is worse off getting $48m stretched out over 40 years, than he would have gotten from getting it all up front, which would be more conventional. If he had gotten a lump sum, ran through $8 million of it on hookers and blow or whatever, and invested the other $40m into the S&P 500, he'd be sitting on over $300m now.

True, except for one point. He accepted the $48 mil over time instead of taking a one time $5.9 mil payment.
__________________
Thinkin' of a master plan
'Cuz ain't nuthin' but sweat inside my hand
So I dig into my pocket, all my money is spent
So I dig deeper but still comin' up with lint
cartman is offline   Reply With Quote
Old 07-01-2019, 01:31 PM   #8
QuikSand
lolzcat
 
Join Date: Oct 2000
Location: Annapolis, Md
Thanks, didn't do my research. Go Mets!
QuikSand is offline   Reply With Quote
Old 07-01-2019, 01:32 PM   #9
sabotai
General Manager
 
Join Date: Oct 2000
Location: The Satellite of Love
Unless the article is misstating the situation...

Quote:
However, instead of paying Bonilla the $5.9 million at the time, the Mets agreed to make annual payments of nearly $1.2 million for 25 years starting July 1, 2011, including a negotiated 8% interest.

I read that as the Mets giving Bobby B ~$30 million ($1.2m over 25 years) over a 25 year period instead of $5.9 million up front.

Quote:
At the time, Mets ownership was involved with a Bernie Madoff account that promised double-digit returns over the course of the deal, and the Mets were poised to make a significant profit -- if the Madoff account delivered. It did not.

And the reason the Mets thought that was a great deal for them was them thinking Bernie Madoff would take that $5.9 million and give them a return of more than the $30 million by the time 2011 came around.

A yearly return of 15% would be needed to turn $5.9 million into more than $30 million, so yeah, I'd say Bobby B made the right choice. Especially considering this deal was reached in 2000, right around the time the dot com bubble burst.

Last edited by sabotai : 07-01-2019 at 01:34 PM.
sabotai is offline   Reply With Quote
Old 07-01-2019, 11:07 PM   #10
Atocep
Grizzled Veteran
 
Join Date: Nov 2006
Location: University Place, WA
Quote:
Originally Posted by Ben E Lou View Post

I think the Braves only have 1 more year of payments to Bruce Sutter.
Atocep is offline   Reply With Quote
Old 07-01-2020, 07:51 AM   #11
albionmoonlight
Coordinator
 
Join Date: Oct 2000
Location: North Carolina
Every day is a good day to be Bobby Bonilla.

But today is the best day to be Bobby Bonilla.
albionmoonlight is offline   Reply With Quote
Old 07-01-2020, 08:06 AM   #12
Scarecrow
College Prospect
 
Join Date: Oct 2000
Location: The Flatlands of America
__________________
Post Count: Eleventy Billion - so deal with it!
Scarecrow is offline   Reply With Quote
Old 07-01-2020, 08:39 AM   #13
sterlingice
Hall Of Famer
 
Join Date: Apr 2002
Location: Back in Houston!
A worthy bump!

SI
__________________
Houston Hippopotami, III.3: 20th Anniversary Thread - All former HT players are encouraged to check it out!

Janos: "Only America could produce an imbecile of your caliber!"
Freakazoid: "That's because we make lots of things better than other people!"


sterlingice is offline   Reply With Quote
Old 07-01-2020, 09:37 AM   #14
Lathum
Favored Bitch #1
 
Join Date: Dec 2001
Location: homeless in NJ
It ended up being a great move for the Mets.

It allowed them to have the money to sigh Mike Hampton who helped them to a world series. Hampton then went on to Colorado and the compensation pick the Mets received turned into David Wright, one of the most iconic players in the history of the franchise.
Lathum is offline   Reply With Quote
Old 07-01-2020, 09:50 AM   #15
SirFozzie
General Manager
 
Join Date: Nov 2000
Location: The State of Insanity
I think Bobby Bo is one of the few baseball players (retired or active) who is getting paid what their contract calls for.
__________________
Check out Foz's New Video Game Site, An 8-bit Mind in an 8GB world! http://an8bitmind.com
SirFozzie is offline   Reply With Quote
Old 07-01-2020, 05:14 PM   #16
Atocep
Grizzled Veteran
 
Join Date: Nov 2006
Location: University Place, WA
This inspired me to look for other deals in MLB. Bruce Sutter, who I mentioned earlier in this thread, is getting paid over $1 mil per through next year.

The Red Sox are paying Manny $2 mil per through 2026.

The Reds are paying Griffey Jr. $3.5 mil per through 2024.

The Orioles will be paying Chris Davis $3.5 mil per year from 2023 to 2032 and then $1.4 mil from 2033 to 2037.
Atocep is offline   Reply With Quote
Old 07-01-2020, 06:07 PM   #17
Lathum
Favored Bitch #1
 
Join Date: Dec 2001
Location: homeless in NJ
It happens a lot but the Mets are a convenient punchline.
Lathum is offline   Reply With Quote
Old 07-01-2020, 08:03 PM   #18
stevew
Hall Of Famer
 
Join Date: Dec 2003
Location: the yo'
Didnít they basically get nothing out of the last 127 million they paid Wright? Was it covered by insurance/buyout? Heís still supposedly on the books for 12m this year
stevew is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is On
Forum Jump


All times are GMT -5. The time now is 06:05 AM.



Powered by vBulletin Version 3.6.0
Copyright ©2000 - 2020, Jelsoft Enterprises Ltd.