Mets agree to another Bobby Bonilla type contract

[Liontown]

Mets' deal with Edwin Diaz has deferred payments until 2042

Edwin Díaz's $102 million, five-year contract with the Mets includes $26.5 million in deferred payments that he won't completely receive until 2042.

www.espn.com

 

[psu31trap]

This deal makes no sense to me.

 

[PSUJam]

Braves fan here. Check this out for Freeman with the Dodgers:

 

[Jason1743]

If Diaz got a $102 million contract, how much will the Mets offer Jacob deGrom?
How much will Aaron Judge get?

 

[Nitt1300]

Aaron Judge will probably get his own country.

 

[Ironlions23]

Mets' deal with Edwin Diaz has deferred payments until 2042

Edwin Díaz's $102 million, five-year contract with the Mets includes $26.5 million in deferred payments that he won't completely receive until 2042.

www.espn.com

People don’t realize there are a ton of these deals out there and Bonilla is the most famous but he was far from the first. Mets obviously have all the money in the world but this is a luxury tax move. It lessened the hit on luxury tax.

 

[dcf4psu]

I don't believe the original Bonilla contract had this. It was created after the Bernie Madoff debacle which the Mets owner was invested in. I think that's what happened.

 

[Ironlions23]

If Diaz got a $102 million contract, how much will the Mets offer Jacob deGrom?
How much will Aaron Judge get?

I don’t think the Mets are gonna make a big offer to deGrom. I folllow the hot stove pretty closely and Cohen’s group doesn’t leak much but there hasn’t been much Mets and deGrom chatter. For a team who has seen his Medicals in great detail over the last couple years for a pitcher turning 35, this should throw up a red flag for those pursuing him.

 

[LastFedaykin]

I don't believe the original Bonilla contract had this. It was created after the Bernie Madoff debacle which the Mets owner was invested in. I think that's what happened.

No it was worse, the Mets bought him out because they were still invested with Bernie, they thought his returns were real so it made better sense to keep the money invested than pay Bonilla at that time... Terrible terrible move

 

[Ironlions23]

I don't believe the original Bonilla contract had this. It was created after the Bernie Madoff debacle which the Mets owner was invested in. I think that's what happened.

The Bonilla contract was created because they were doing so well with Madoff. It was before the debacle. I think the events went as follows…

-Bonilla wasn’t happy and distraction and also playing poorly.
-He had 5.9 million left on contract
-They sent him packing in 2000
-They agreed to the yearly million or so dollar installments at 8%
-they invested the money with Madoff making well more then 8%
-they Used the money savings to be able to bring in Mike Hampton who ended up being the NLCS MVP and carried them to the subway series.
-Mike Hampton left the next year and left the Mets with a comp pick in the draft.
-they drafted David Wright with that pick

It is a deal jokes about often but I think a lot of teams would have traded places with the course of events in this deal.

 

[Ironlions23]

Braves fan here. Check this out for Freeman with the Dodgers:

View attachment 260116

Lots of these deals out there.
- Nationals are actually paying Max Scherzer 15 million a year to pitch against them the next 4 years and this year.
-yellich will get 2.5 million or so from 2031 - 2042 from the brew crew
-manny rameriez is still being paid 2 million a year from the Red Sox. Couple more years left on that deal
-Chris sale and Strasburg also have a lot of money deferred in their contracts
-reds are still paying ken Griffey Jr 4 million a year
-The Baltimore Orioles will give Chris Davis 15 deferred payments, $3.5 million annually in 2023 through 2032 and $1.4 million annually in 2033 through 2037.
-$25 million at 5.5 percent interest in annual installments each Jan. 30 starting with the year after his retirement from the major leagues up until at least 2032.
-the Braves actually had one of the first Bobby Bonilla deals. Check out the Bruce Sutter deal. They paid him over 30 years just ending in 2021. Around a million bucks when he didn’t make more then 750,000 during the actual contract

 

[PSUSignore]

If Diaz got a $102 million contract, how much will the Mets offer Jacob deGrom?
How much will Aaron Judge get?

Mets fan here. I don't care, it's not my money. There are tons of these deferred contracts too, not really sure how Bonilla became the poster boy for them but I do enjoy a good Bonilla day celebration every July 1.