- Thread starter
- #1
All In Cards
Super Moderator
Yes, July 1 is when Bobby Bonilla annually gets a check from the Mets for $1,193,248.20, just as he does every year and will continue to do so through 2035.
Welcome to our community
Be apart of something great, join today!
Happy Bobby Bonilla Mets pay day
- Thread starter All In Cards
- Start date
Disclaimer: Links on this page pointing to Amazon, eBay and other sites may include affiliate code. If you click them and make a purchase, we may earn a small commission.
ccouch (Chad)
Member
- Aug 8, 2008
- 444
- 6
Worth noting (because everybody seems to just look at the gross numbers and not the actual present value of the payments) is that this is annuity that is based on an 8% annual return to Bonilla. If effect, the Mets owed Bonilla something like $6M when they parted ways but the parties agreed to defer the amount owed at 8% interest. The Mets make a payment for accrued interest and principal each year on July 1 for 25-years.
Frankly, it is a good deal for Bonilla because it is 8% risk free interest. But it isn't the boondoggle that the gross numbers make it look like. It is impossible to say what it costs the Mets to borrow money at this point, but given the financial situation of the team that has been presented in the press in recent years, it probably isn't much less than 8% and might even be more.
Frankly, it is a good deal for Bonilla because it is 8% risk free interest. But it isn't the boondoggle that the gross numbers make it look like. It is impossible to say what it costs the Mets to borrow money at this point, but given the financial situation of the team that has been presented in the press in recent years, it probably isn't much less than 8% and might even be more.
aarne13
Active member
Johan Santana will receive $5MM/yr from the Mets until 2020.
WaxPax
Active member
Apparently the Bonilla deferred payment deal isn't the only bad one...
http://hardballtalk.nbcsports.com/2...nt-even-the-worst/?ocid=Yahoo&partner=ya5nbcs
Sent from my DROID RAZR HD using Freedom Card Board mobile app
http://hardballtalk.nbcsports.com/2...nt-even-the-worst/?ocid=Yahoo&partner=ya5nbcs
Sent from my DROID RAZR HD using Freedom Card Board mobile app
RandomH
Active member
Until 2035.... WOW
