Toggle sidebar

OT: Bobby Bonilla Day

S

superfan01

All-American
May 29, 2003
8,780
8,004
0
RUfromSoCal? said:
the Mets being bad... and the fact that they got ripped-off by Madoff as well is so... Mets.
Click to expand...
Record payroll in sports history and 18.5 out of first place on July 1. You can't make this up.

Shows you that just having a high payroll doesn't mean success and the fact the Yankees basically have had winning records every year for 30 years now is all the more remarkable.
 
R

RU-Kidding

All-Conference
Nov 6, 2001
11,846
2,371
81
knightfan7 said:
It's July 1 and time for the Mets to give Bobby his annual $1.19 million check as part of his 2003 contract. Only 18 more annual payments and the Mets are done.
Click to expand...
Minor update - 12 more payments through 07.01.2035.
 
Last edited:
  • Sad
Reactions: redking
D

Doctor Worm

Heisman
Feb 7, 2002
30,750
22,604
113
Fred Wilpon to his accountants: "You say Bonilla wants to take his final year's salary in the form of a long-term deferred annuity compounded at 8%? Of course we can honor that request! We can get at least 12% on that principal, guaranteed, year in and year out. So we can handle those future payments with plenty to spare.

"What do you mean, am I sure. Of course I'm sure. I got a guy..."
 
  • Like
  • Haha
Reactions: Fat Koko, Plum Street, rucoe89 and 1 other person
rureadyforsomefootball

rureadyforsomefootball

All-Conference
Aug 20, 2005
5,275
2,088
113
The Orioles are still paying him $500k til 2029.They also owe Chris Davis $59 million
😡
. Just keeping it real.I'll show you the Bronx.
 
  • Like
Reactions: Plum Street
RULoyal

RULoyal

Heisman
Jul 28, 2001
15,657
19,040
113
superfan01 said:
Record payroll in sports history and 18.5 out of first place on July 1. You can't make this up.

Shows you that just having a high payroll doesn't mean success and the fact the Yankees basically have had winning records every year for 30 years now is all the more remarkable.
Click to expand...
So sweet!
 
S

superfan01

All-American
May 29, 2003
8,780
8,004
0
Mets fans might claim there are worse contracts out there but this one gets all the attention in the media.

#LolMets
 
MADHAT1

MADHAT1

Heisman
Apr 1, 2003
31,701
16,498
113
Not just the Mets paying him and others players have deferred payments 😲
Bobby Bonilla Day: How his deferred contracts compare to Shohei Ohtani's deal
>So is a lesser-known fact: A separate deferred-contract from the Baltimore Orioles that began in 2004 pays Bonilla $500,000 a year through 2029, boosting his yearly income from deferred salary to $1,693,248.20.<
https://www.yahoo.com/finance/news/bobby-bonilla-day-deferred-contracts-175857049.html
 
R

RUhasarrived

All-Conference
May 7, 2007
8,035
2,037
0
We'll know that Great Depression 2 is here if the Mets ever default.
I saw Bobby hit 2 at Shea against the Phillies on June 10,1993.
I paid $40 for a box behind the Phillies dugout but was feeling glum until Dallas Green lifted Saberhagen after 5 with the Mets leading 5-0.
The Phillies started their comeback immediately,eventually going ahead 7-5 after 8.5 innings.
In the bottom of ninth with a runner on,Bonilla hit a shot down the left field line that somehow went foul.
Wild Thing then struck him out,going on to fan the side.
I have the game on VHS.
Future Met wife,Kate Upton,was celebrating her first birthday that day.
 
  • Like
Reactions: Plum Street
cubuffsdoug_rivals

cubuffsdoug_rivals

Heisman
Apr 8, 2002
15,733
27,428
113
They should change it to "Happy Dodger Day" as they have made it fashionable and essential to their success. It's at a point where the league owners are considering rule changes to stop it.
 
Z

Zak57

Heisman
Jul 5, 2011
11,235
11,346
113
Rutgers Chris said:
We really need a 30 for 30 or some type of documentary on this whole thing from all the different angles. Such a wild story
Click to expand...
There's literally nothing wild about it. Owners were deferring payments before Bonilla. It's way more prevalent now.

Wilpons thought they were getting returns from Madoff in double digits so they were easily covered on a simple annuity like this.

Mets were able to sign Mike Hampton who got them to a WS and then when he left the team got a comp pick to sign David wright.

The perpetuation that this is a one of a kind thing is only because of LOLMets.
 
  • Like
Reactions: patk89 and RUnotentertained
R

Rutgers Chris

All-American
Nov 29, 2005
5,346
6,302
97
Zak57 said:
There's literally nothing wild about it. Owners were deferring payments before Bonilla. It's way more prevalent now.

Wilpons thought they were getting returns from Madoff in double digits so they were easily covered on a simple annuity like this.

Mets were able to sign Mike Hampton who got them to a WS and then when he left the team got a comp pick to sign David wright.

The perpetuation that this is a one of a kind thing is only because of LOLMets.
Click to expand...
You kinda made my point for me. If you asked a casual fan what happened they’d say the Mets are just idiots, when there is so much more to the story. The thing that makes it interesting is all of the layers to it that you listed- the Madoff angle is the wild part, the fact that though they’re still paying for it, that it actually worked out pretty well from a baseball perspective for the Mets, it ended up in them getting one of their best all time players, etc.
 
RUnotentertained

RUnotentertained

Junior
Jan 10, 2026
463
385
63
Some of you in the stock market thread would be making more then 1.1 million per year if you were given 5.9 million in 2000

it’s just that the Mets haven’t won anything in 40 years . So the rest of the baseball world can f-€k off !!

5.9 million at 8% between 2000-2011
Collect 1.1 million between 2011-2035
Mets signed Hampton with the $$ savings
Mets World Series w/ Hampton in 2000
Hampton leaves for Rockies , Mets get pick 39 as compensation
Mets take David Wright with pick

 
  • Like
Reactions: Rutgers Chris
Z

Zak57

Heisman
Jul 5, 2011
11,235
11,346
113
Rutgers Chris said:
You kinda made my point for me. If you asked a casual fan what happened they’d say the Mets are just idiots, when there is so much more to the story. The thing that makes it interesting is all of the layers to it that you listed- the Madoff angle is the wild part, the fact that though they’re still paying for it, that it actually worked out pretty well from a baseball perspective for the Mets, it ended up in them getting one of their best all time players, etc.
Click to expand...
Fair enough.
 
  • Like
Reactions: Rutgers Chris
2

24Babybull

Senior
Oct 15, 2006
1,054
447
83
Ohtani has a similar Contract just making $2 million while playing with the majority deferred. I'm pretty sure these deferred contracts are a sticking point in the new CBA Negotiations.

Shohei Ohtani’s historic 10-year, $700 million contract with the Los Angeles Dodgers defers $680 million of the total value until after his playing career. He makes just $2 million per season from 2024 to 2033, with the remaining $68 million per year paid out annually from 2034 to 2043. [1, 2]
Here are the key takeaways about this unprecedented deal:
  • No Interest: Ohtani’s deferred compensation includes zero interest. Because of inflation and the time value of money, the actual present-day value of his contract is significantly lower, estimated at roughly $46 million per year. [1, 2]
  • Luxury Tax Relief: Because the MLB's Competitive Balance Tax (CBT) evaluates the actual present value of a contract, Ohtani's lower adjusted value frees up significant payroll space for the Dodgers to sign other players. [1]
  • Tax Strategy: By deferring 97% of his salary, Ohtani has the potential to save tens of millions in California state taxes. If he establishes residency outside of California (or the United States) when the massive payouts begin in 2034, he may be able to avoid the state's highest-in-the-nation income taxes
 
  • Like
Reactions: MADHAT1 and Rutgers Chris
R

Rutgers Chris

All-American
Nov 29, 2005
5,346
6,302
97
24Babybull said:
Ohtani has a similar Contract just making $2 million while playing with the majority deferred. I'm pretty sure these deferred contracts are a sticking point in the new CBA Negotiations.

Shohei Ohtani’s historic 10-year, $700 million contract with the Los Angeles Dodgers defers $680 million of the total value until after his playing career. He makes just $2 million per season from 2024 to 2033, with the remaining $68 million per year paid out annually from 2034 to 2043. [1, 2]
Here are the key takeaways about this unprecedented deal:
  • No Interest: Ohtani’s deferred compensation includes zero interest. Because of inflation and the time value of money, the actual present-day value of his contract is significantly lower, estimated at roughly $46 million per year. [1, 2]
  • Luxury Tax Relief: Because the MLB's Competitive Balance Tax (CBT) evaluates the actual present value of a contract, Ohtani's lower adjusted value frees up significant payroll space for the Dodgers to sign other players. [1]
  • Tax Strategy: By deferring 97% of his salary, Ohtani has the potential to save tens of millions in California state taxes. If he establishes residency outside of California (or the United States) when the massive payouts begin in 2034, he may be able to avoid the state's highest-in-the-nation income taxes
Click to expand...
He just did that so his “interpreter” didn’t gamble it all away
 
  • Like
Reactions: 24Babybull
MADHAT1

MADHAT1

Heisman
Apr 1, 2003
31,701
16,498
113
Some long term payments
Shohei Ohtani (Los Angeles Dodgers): 10 years, $700 million ( signed in 2023.) With $680 million deferred, he will receive $68 million annually from 2034 through 2043

Mookie Betts (Los Angeles Dodgers): 12 years, $365 million (2020).. He will collect deferred salary ranging from $8M to $11M annually every July 1st from 2033 through 2044

Blake Snell (Los Angeles Dodgers): $65 million of his contract ( 2024.) is deferred, payable between 2035 and 2046

Chris Davis (Baltimore Orioles): Signed a 7-year, $161 million deal in 2016 that includes $42 million in deferred money, with installment payments stretching all the way to 2037
 
P

patk89

All-Conference
Jul 25, 2001
6,344
2,468
78
In simple terms, if Madoff wasn't a ponzi, the Wilpons negotiated a lower NPV cost to the Mets on the Bonilla contract by deferring at a lower interest rate than they were earning. The Wilpons were financially sophisticated, much more than the people on this thread. That they invested over decades with Madoff puts my previous statement into doubt, but some extremely rich/smart people got caught up in that mess.
 
You must log in or register to reply here.
Top Bottom