Happy Bobby Bonilla Day

[Clubmaker2]

Cant edit previous post, ignore that 20 percent number since I backed that out with them paying for all 35 years, not 25 years after a 10 year delay.

[Goldfan]

Also note that 6 mil borrowed at 8 percent for 35 years, would have 537k a year payments paying it back, yet the mets borrowed 6 mil from bobby and pay 1.2 mil a year for 35 years ...which is about a 20 percent interest rate loan, it is just crazy. FYI 30 year mortgage rate in 1999 roughly 7.4 percent.

Bonilla makes 30mil over that period instead of the almost 6mil in ‘99…..I suppose he could’ve bettered his 6 from ‘99 to ‘35, but he could’ve lost it in 2000……seems like a very good retirement plan. Considering he also had a career of earnings to that point

[stormtime]

Worst contract in the history of baseball.

Imagine all the days in the 2040's fans will have to come up with for retired Dodgers alone. More than $1B deferred is just one reason a salary cap is coming soon to a ballpark near you...

[rockondlouie]

Just wait until Bonilla's deal runs out and almost at the same time S. Ohtani's deferred money kicks in!

$70+M a year for Ohtani

[Goldfan]

Just wait until Bonilla's deal runs out and almost at the same time S. Ohtani's deferred money kicks in!

$70+M a year for Ohtani

I think Guggenheim was planning for end of days before that point

[BrummerStealsHome]

I read somewhere that Bobby Bo also receives an annual check from the Orioles for about $500K.

Half a mil here, half a mil there, and soon you are talking about some real money.

[stormtime]

I guess Chris Davis is on his way to legendary status. He just got over $9M from Baltimore and will be paid (not that much annually) every July 1st until 2037!

[Absolut]

He’s scored as many runs as the cards offense this month.

[Clubmaker2]

Also note that 6 mil borrowed at 8 percent for 35 years, would have 537k a year payments paying it back, yet the mets borrowed 6 mil from bobby and pay 1.2 mil a year for 35 years ...which is about a 20 percent interest rate loan, it is just crazy. FYI 30 year mortgage rate in 1999 roughly 7.4 percent.

Bonilla makes 30mil over that period instead of the almost 6mil in ‘99…..I suppose he could’ve bettered his 6 from ‘99 to ‘35, but he could’ve lost it in 2000……seems like a very good retirement plan. Considering he also had a career of earnings to that point

Great interest rate play for BB so far, interest rates basically went down for 2 decades the years 2001 til 2021 after covid . (they actually basically went down from 1981 to 2021 as a general trend.)

https://fred.stlouisfed.org/series/MORTGAGE30US

[Red7]

Actually, the Mets came out ahead. They took the money they owed Bonilla and bought an annuity. They essentially are paying Bonilla from the interest.

Is it possible you don’t know the story?

I’ve heard the story many times from Steve Philips himself. Give the Lead Off Spot on MLB a listen to sometime.

[brock118]

It's not only the Mets paying out former players. The Cardinals make a few payments themselves on July 1"

Nolan Arenado $2.28 million from deferred contract from 2021 with the 2% interest
Albert Pujols $1.2 million
Matt Holliday $1.4 million
Adam Wainwright $1 million
And I believe Chris Carpenter is on his last payment of $1 million as well

[An Old Friend]

Actually, the Mets came out ahead. They took the money they owed Bonilla and bought an annuity. They essentially are paying Bonilla from the interest.

Is it possible you don’t know the story?

I’ve heard the story many times from Steve Philips himself. Give the Lead Off Spot on MLB a listen to sometime.

Why do you think the Mets came out ahead?

[AtillaTheBlue1]

Worst contract in the history of baseball.

not even close, Braves deal with Bruce Sutter was way worse,

[Red7]

Actually, the Mets came out ahead. They took the money they owed Bonilla and bought an annuity. They essentially are paying Bonilla from the interest.

Is it possible you don’t know the story?

I’ve heard the story many times from Steve Philips himself. Give the Lead Off Spot on MLB a listen to sometime.

Why do you think the Mets came out ahead?

Because they MADE more off the annuity than they’re paying out. They’re essentially paying him out of the interest.

[An Old Friend]

Actually, the Mets came out ahead. They took the money they owed Bonilla and bought an annuity. They essentially are paying Bonilla from the interest.

Is it possible you don’t know the story?

I’ve heard the story many times from Steve Philips himself. Give the Lead Off Spot on MLB a listen to sometime.

Why do you think the Mets came out ahead?

Because they MADE more off the annuity than they’re paying out. They’re essentially paying him out of the interest.

Dude they literally had to sell the team. They lost an assload of money, had to take out expensive debt to fund the team while cutting payroll, and were forced to sell the team.

The “annuity” you’re referring to was part of the Madoff Ponzi scheme.

[Quincy Varnish]

Worst contract in the history of baseball.

Anthony Rendon
Chris Davis
Stephen Strasburg

In the world of bad contracts, Bonilla likely doesn’t land in the top 100.

Kris Bryant