Happy Bobby Bonilla Day...

[imissplatinumplus]

1.19 million hit the direct deposit this morning.
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[Go Budaw]

1.19 million hit the direct deposit this morning.
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One of the all time sports organization blunders. Good on him for capitalizing on it.

 

[UpTheMiddlex3Punt]

He made off pretty good

 

[Philly Dawg]

Giving him that contract was a blunder, but paying him off this way was actually a smart way to deal with it.

 

[mcdawg22]

One of the all time sports organization blunders. Good on him for capitalizing on it.

Bruce Sutter was worse.
https://www.ledger-enquirer.com/sports/mlb/atlanta-braves/article213840114.html

 

[Drebin]

Giving him that contract was a blunder, but paying him off this way was actually a smart way to deal with it.

Yeah, the Mets made off like bandits in this deal, too. Everybody won.

The bigger blunder the Mets made was offering that big of a contract to begin with.

 

[patdog]

Atlanta Braves fans say, I'll see your Bobby Bonilla contract and raise you a Bruce Sutter.

Link

 

[Bobby Ricigliano]

Did you not read the thread?

 

[patdog]

Well, I have now. Damn.

 

[Junction John]

Pretty cool how they have Tanner Allen signing autographs at the bottom of that story.

 

[HumpDawgy]

I remember back in the day when these 2 were something.

 

[Go Budaw]

Yeah, the Mets made off like bandits in this deal, too. Everybody won.

The bigger blunder the Mets made was offering that big of a contract to begin with.

I think its hard to say they “made off like bandits” when their hedge on the Bonilla deferred deal was a 17ing Bernie Madoff scheme that dried up several years before the Bonilla payments were even set to begin. But yeah, they would have made off like bandits had that train kept rolling. The other thing I found humorous is they have yet ANOTHER deferred deal with Bonilla that hasn’t even kicked in yet that they have to split with the Orioles. By the time its done they will have paid him $35 million or so when they could have gotten by with just $5.8 in 2001.

 

[Drebin]

I think its hard to say they “made off like bandits” when their hedge on the Bonilla deferred deal was a 17ing Bernie Madoff scheme that dried up several years before the Bonilla payments were even set to begin. But yeah, they would have made off like bandits had that train kept rolling. The other thing I found humorous is they have yet ANOTHER deferred deal with Bonilla that hasn’t even kicked in yet that they have to split with the Orioles. By the time its done they will have paid him $35 million or so when they could have gotten by with just $5.8 in 2001.

The number they actually will end up paying is 29.8M, and Madoff or not, they are making much more than that in dividends earned from investments. The Mets were able to use the money they deferred at the time to trade for Mike Hampton - which enabled them to make the world series in 2000. And then when they lost Hampton in free agency, the sandwich pick they got for him ended up being David Wright. None of that would have been possible without deferring salary for Bobby Bonilla. Yes, they made out like bandits.

And although Bonilla is the memorable one, there are dozens of former MLB players being compensated the same way.