IONTOP Posted May 16, 2011 Share Posted May 16, 2011 http://online.wsj.com/article/SB10001424052748703426004575339013108198050.html starting on July 1, 2011, Bobby Bonilla will remain on the franchise's payroll for 25 years, collecting an annual salary of $1,193,248.20. Those are the terms the Mets agreed to Jan. 3, 2000, when they bought out the final year of Mr. Bonilla's contract. So basically he agreed to defer $5.9 million for 11 years at 8% interest, which is now around $30 million and have payouts for 25 years. He's 47, so he'll get 1.19 million a year until he's 72. That is mind blowing to me. Mind blowing that anyone even thought of doing that at all... Link to comment Share on other sites More sharing options...
Dan T. Posted May 16, 2011 Share Posted May 16, 2011 I suspect his agent was the smart one. Excellent contract, though. The 8% interest rate turned out to be a sweet deal. When you hear so many stories of pro athletes who blow through their wads of money during their playing days only to wind up destitute, maybe more agents should be persuading their clients to accept similar contracts... Link to comment Share on other sites More sharing options...
WALEOVECHKIN Posted May 16, 2011 Share Posted May 16, 2011 And he's collecting $500K a year from the Orioles until 2015. Link to comment Share on other sites More sharing options...
TD_washingtonredskins Posted May 16, 2011 Share Posted May 16, 2011 That is brilliant...I'm impressed. Link to comment Share on other sites More sharing options...
G.A.C.O.L.B. Posted May 16, 2011 Share Posted May 16, 2011 Lol, of course it's the Mets. Link to comment Share on other sites More sharing options...
GhostofSparta Posted May 16, 2011 Share Posted May 16, 2011 Holy ****, that's an amazing buyout for a player. Good for him. Link to comment Share on other sites More sharing options...
MattFancy Posted May 16, 2011 Share Posted May 16, 2011 He should thank his agent everyday Link to comment Share on other sites More sharing options...
TradeTheBeal! Posted May 16, 2011 Share Posted May 16, 2011 Ricky Williams sheds a tear. Link to comment Share on other sites More sharing options...
Drew_Fl Posted May 16, 2011 Share Posted May 16, 2011 didn't the mets get affected by the madoff scheme too? who is making financial decisions over there? Link to comment Share on other sites More sharing options...
pjfootballer Posted May 16, 2011 Share Posted May 16, 2011 Smart, very smart for both his agent and he to agree to this. He is literally "set" for life. Link to comment Share on other sites More sharing options...
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