Happy Bobby Bonilla Day!!!!!

[SlappyUtilityMIF]

And Hackilton season!.... I can't wait till he comes off the books!

 

Today, the New York Mets will pay Bobby Bonilla another installment of $1,193,248.20.

Every July 1, from 2011 to 2035, the Mets make the payment as part of deferring the $5.9 million the Mets owed him from the 2000 season, a year in which he didn't play for the team, because they released him in January. As noted last year, Bonilla's agent worked out a deal that deferred payment (with an 8 percent annual interest rate).

With seven payments now in, Bonilla has now collected $8,352,737.40. There are 18 more payments due to Bonilla through 2035. When all the payments are made, Bonilla will have turned that $5.9 million into $29.8 million.

But that's not all.

Bonilla also has deferred money that is being paid by the Mets and the Baltimore Orioles, who took Bonilla for the final year and a half (1995 and 1996) of his first Mets contract, a five-year deal signed in December 1991 for $29 million.

The two teams split a $12.5 million payment which comes in 25 installments. That deal started in 2004, so Bonilla has received 14 payments worth a total of $7 million, and he will receive another $5.5 million through 2028.

So to recap, Bonilla has already received $15.3 million in deferred money. Over the next 18 years, he has another $27 million to go.

All this looks even better from his home in Sarasota, Florida, where there's no state income tax.

http://www.espn.com/blog/new-york/mets/post/_/id/125162/happy-bobby-bonilla-day-his-annual-1-19-million-payday-is-here

[Jason]

This is always funny

[fan_since79]

With interest rates near zero for the past decade or so and likely to rise slowly, this is an extremely good deal.

 

Edited July 1, 2017 by fan_since79

[SlappyUtilityMIF]

12 minutes ago, fan_since79 said:

With interest rates near zero for the past decade or so and likely to rise slowly, this is an extremely good deal.

 

how is $29.8M>$5.9M on the ownership Org side?..... Horrible idea, unless, they had a restructuring opportunity to pay it off early.

[fan_since79]

An extremely good deal for Bonilla. That's what I meant.

[JAHV76]

It's Christmas in July for the Bonilla family!

[JustATroutFan]

Stealing money from an organization like what Hamilton did as an Angel. LMFAO

[eligrba]

I can think of three current Angel players that Bonilla would outhit if he played this year......and are paid more than 1.2 million.

[Dtwncbad]

Actual financial analysis says Bonilla gave up a tremendous amount of upside to have a fair return.  It is just mathematically incorrect to look at this deal as "stupid" foe the Mets.  The Mets (And lots of other financially savvy individuals) can easily do better than 8% with that money, including in a close ro zero interest bank deposit environment.

This very easily defended as a win for the Mets. . .if you take the time to use actual financial analysis and resist the fun of poking ridicule at the Mets with a glance analysis.

http://www.businessinsider.com/mets-bobby-bonilla-deal-smart-2015-7

[ten ocho recon scout]

47 minutes ago, Dtwncbad said:

Actual financial analysis says Bonilla gave up a tremendous amount of upside to have a fair return.  It is just mathematically incorrect to look at this deal as "stupid" foe the Mets.  The Mets (And lots of other financially savvy individuals) can easily do better than 8% with that money, including in a close ro zero interest bank deposit environment.

This very easily defended as a win for the Mets. . .if you take the time to use actual financial analysis and resist the fun of poking ridicule at the Mets with a glance analysis.

http://www.businessinsider.com/mets-bobby-bonilla-deal-smart-2015-7

Its a holiday weekend, so youre probably busy. But can you find something similar for hamilton?.....please?

[Blarg]

Isn't this Happy Baldoquin day or is that next week?

[fan_since79]

11 minutes ago, Blarg said:

Isn't this Happy Baldoquin day or is that next week?

...batting a robust .232 with 5 RBI last month in A-ball.

Not a happy day.

Edited July 1, 2017 by fan_since79

[Vegas Halo Fan]

In before someone asks if he can still play third base.

[Slegnaac]

In before Claude asks if he can still DH.

[Puget Sound Angel]

Any time a NY team takes it on  the chin, I love  it.

[fan_since79]

[Jobu]

4 hours ago, Dtwncbad said:

Actual financial analysis says Bonilla gave up a tremendous amount of upside to have a fair return.  It is just mathematically incorrect to look at this deal as "stupid" foe the Mets.  The Mets (And lots of other financially savvy individuals) can easily do better than 8% with that money, including in a close ro zero interest bank deposit environment.

This very easily defended as a win for the Mets. . .if you take the time to use actual financial analysis and resist the fun of poking ridicule at the Mets with a glance analysis.

http://www.businessinsider.com/mets-bobby-bonilla-deal-smart-2015-7

But didn't they just lose it all in a Ponzi scheme?