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(Fox 5 New York)   Happy Bobby Bonilla day, everybody   (fox5ny.com) divider line
    More: Spiffy, Cincinnati Reds, Major League Baseball, New York Mets, National League, World Series, NEW YORK, Atlanta Braves, San Francisco Giants  
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673 clicks; posted to Sports » on 01 Jul 2022 at 10:05 AM (5 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



29 Comments     (+0 »)
View Voting Results: Smartest and Funniest
 
2022-07-01 9:38:04 AM  
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2022-07-01 10:33:20 AM  
Everything about Bobby Bonilla day is magical.
 
2022-07-01 10:36:51 AM  
Bruce Sutter turned less owed money into more deferred money but no one cares.
 
2022-07-01 10:53:48 AM  
In related news, Luol Deng's contract is finally paid off this year.
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2022-07-01 11:13:08 AM  

Dafatone: Bruce Sutter turned less owed money into more deferred money but no one cares.


Yeah, and Ken Griffey, Jr. is the eighth-highest paid player on the Reds' payroll. Chris Davis is getting paid into the 2030s by Baltimore and he wasn't even good.

What makes Bonilla Day special is the Madoff hilarity. Just the idea that the team thought "we can pay this guy whatever we want in the future because we've invested in a money-minting machine."
 
2022-07-01 11:17:30 AM  

Super Chronic: Dafatone: Bruce Sutter turned less owed money into more deferred money but no one cares.

Yeah, and Ken Griffey, Jr. is the eighth-highest paid player on the Reds' payroll. Chris Davis is getting paid into the 2030s by Baltimore and he wasn't even good.

What makes Bonilla Day special is the Madoff hilarity. Just the idea that the team thought "we can pay this guy whatever we want in the future because we've invested in a money-minting machine."


Sure. But even without Madoff, it was a vaguely functional, if not short-sighted, approach. They had a window to compete and needed a top pitcher. So they freed up some salary, traded for Mike Hampton, and made the world series.

That's worth a little over $1m a year for a while.

/plus, when Hampton left, the compensation draft pick was David Wright.
 
2022-07-01 11:56:07 AM  
He just took the installments instead of lump sum.  It's an unusual move but he's not getting a ton more money in total compared to others.  You could argue the 1.1 million is losing value every year to inflation and that's a good thing for the Mets, and a lost opportunity or catastrophe avoidance for Bonilla.
 
2022-07-01 12:00:05 PM  
 
2022-07-01 12:12:02 PM  

12349876: He just took the installments instead of lump sum.  It's an unusual move but he's not getting a ton more money in total compared to others.  You could argue the 1.1 million is losing value every year to inflation and that's a good thing for the Mets, and a lost opportunity or catastrophe avoidance for Bonilla.


Lol, what??

After being released by the Mets in 2000, he was owed the remaining $5,900,000 on his contract.

They are spending a total of $29,800,000 between the years 2011 - 2035 in order to fulfill that year of salary. That is absolutely more than other outfielders who played in 2000 were compensated, and it was not at all a wise financial decision by the Mets.
 
2022-07-01 12:37:29 PM  

Eddie Hazel's E string: 12349876: He just took the installments instead of lump sum.  It's an unusual move but he's not getting a ton more money in total compared to others.  You could argue the 1.1 million is losing value every year to inflation and that's a good thing for the Mets, and a lost opportunity or catastrophe avoidance for Bonilla.

Lol, what??

After being released by the Mets in 2000, he was owed the remaining $5,900,000 on his contract.

They are spending a total of $29,800,000 between the years 2011 - 2035 in order to fulfill that year of salary. That is absolutely more than other outfielders who played in 2000 were compensated, and it was not at all a wise financial decision by the Mets.


It's called interest.
 
2022-07-01 12:42:39 PM  

Dafatone: Eddie Hazel's E string: 12349876: He just took the installments instead of lump sum.  It's an unusual move but he's not getting a ton more money in total compared to others.  You could argue the 1.1 million is losing value every year to inflation and that's a good thing for the Mets, and a lost opportunity or catastrophe avoidance for Bonilla.

Lol, what??

After being released by the Mets in 2000, he was owed the remaining $5,900,000 on his contract.

They are spending a total of $29,800,000 between the years 2011 - 2035 in order to fulfill that year of salary. That is absolutely more than other outfielders who played in 2000 were compensated, and it was not at all a wise financial decision by the Mets.

It's called interest.


No shiat. Are you or the other person going to claim the amount the Mets have paid him in interest is lower than the returns on the money they saved in 2000? Again, a hearty LOL.

Pretending this was a wash for the Mets is insane. As pointed out upthread, they did it because they were expecting Madoff-level returns for years on end. Just let us chuckle and pivot to boasting about their current division lead instead.
 
2022-07-01 12:43:32 PM  

12349876: He just took the installments instead of lump sum.  It's an unusual move but he's not getting a ton more money in total compared to others.  You could argue the 1.1 million is losing value every year to inflation and that's a good thing for the Mets, and a lost opportunity or catastrophe avoidance for Bonilla.


I ran the numbers a while back, and it translates to a loan/investment of about 8%. As a financial transaction, it's pretty unremarkable for both parties, particularly given what interest rates were at the time.
 
2022-07-01 12:49:02 PM  

Dafatone: Bruce Sutter turned less owed money into more deferred money but no one cares.


saberhagen was the first one who did it with the mets and will get paid from 2004-2038 just the same as bonilla but no one cares about that either.  but it's only $250k
 
2022-07-01 12:49:16 PM  

Eddie Hazel's E string: Dafatone: Eddie Hazel's E string: 12349876: He just took the installments instead of lump sum.  It's an unusual move but he's not getting a ton more money in total compared to others.  You could argue the 1.1 million is losing value every year to inflation and that's a good thing for the Mets, and a lost opportunity or catastrophe avoidance for Bonilla.

Lol, what??

After being released by the Mets in 2000, he was owed the remaining $5,900,000 on his contract.

They are spending a total of $29,800,000 between the years 2011 - 2035 in order to fulfill that year of salary. That is absolutely more than other outfielders who played in 2000 were compensated, and it was not at all a wise financial decision by the Mets.

It's called interest.

No shiat. Are you or the other person going to claim the amount the Mets have paid him in interest is lower than the returns on the money they saved in 2000? Again, a hearty LOL.

Pretending this was a wash for the Mets is insane. As pointed out upthread, they did it because they were expecting Madoff-level returns for years on end. Just let us chuckle and pivot to boasting about their current division lead instead.


It's really a wash. Assuming a decent but not fraudulent investment profit, they probably lost a bit of money, but not much, and it freed up money to acquire a top pitcher for the 2000 season. That's more important than whether they "won" or "lost" the deal strictly by the numbers.
 
2022-07-01 1:04:33 PM  

Dafatone: Super Chronic: Dafatone: Bruce Sutter turned less owed money into more deferred money but no one cares.

Yeah, and Ken Griffey, Jr. is the eighth-highest paid player on the Reds' payroll. Chris Davis is getting paid into the 2030s by Baltimore and he wasn't even good.

What makes Bonilla Day special is the Madoff hilarity. Just the idea that the team thought "we can pay this guy whatever we want in the future because we've invested in a money-minting machine."

Sure. But even without Madoff, it was a vaguely functional, if not short-sighted, approach. They had a window to compete and needed a top pitcher. So they freed up some salary, traded for Mike Hampton, and made the world series.

That's worth a little over $1m a year for a while.

/plus, when Hampton left, the compensation draft pick was David Wright.


As NewWorldDan mentioned, 8% didn't require Madoff smoke and mirrors.  It was pretty typical interest at the time.  On Bonilla's side, since the S&P 500 has been getting something like 6.9%, it certainly wouldn't have made sense to take the lump-sum, and the interest has been better than anything he'd expect.  Suspect there are tax advantages, but not sure.
 
2022-07-01 1:16:26 PM  
last season was the first of Fernando Tatis Jr's record-breaking 14-year contract, and even it expires before Bobby Bonilla Day does.
 
2022-07-01 1:27:32 PM  

virulent_loser: last season was the first of Fernando Tatis Jr's record-breaking 14-year contract, and even it expires before Bobby Bonilla Day does.


To be fair, they're both going to have the same number of at bats tonight.
 
2022-07-01 1:48:28 PM  

Trocadero: virulent_loser: last season was the first of Fernando Tatis Jr's record-breaking 14-year contract, and even it expires before Bobby Bonilla Day does.

To be fair, they're both going to have the same number of at bats tonight.


Fark user imageView Full Size
 
2022-07-01 3:29:24 PM  

Dafatone: Eddie Hazel's E string: Dafatone: Eddie Hazel's E string: 12349876: He just took the installments instead of lump sum.  It's an unusual move but he's not getting a ton more money in total compared to others.  You could argue the 1.1 million is losing value every year to inflation and that's a good thing for the Mets, and a lost opportunity or catastrophe avoidance for Bonilla.

Lol, what??

After being released by the Mets in 2000, he was owed the remaining $5,900,000 on his contract.

They are spending a total of $29,800,000 between the years 2011 - 2035 in order to fulfill that year of salary. That is absolutely more than other outfielders who played in 2000 were compensated, and it was not at all a wise financial decision by the Mets.

It's called interest.

No shiat. Are you or the other person going to claim the amount the Mets have paid him in interest is lower than the returns on the money they saved in 2000? Again, a hearty LOL.

Pretending this was a wash for the Mets is insane. As pointed out upthread, they did it because they were expecting Madoff-level returns for years on end. Just let us chuckle and pivot to boasting about their current division lead instead.

It's really a wash. Assuming a decent but not fraudulent investment profit, they probably lost a bit of money, but not much, and it freed up money to acquire a top pitcher for the 2000 season. That's more important than whether they "won" or "lost" the deal strictly by the numbers.


there is a time value of money thing to consider.

At the end of the day it isn't as HORRIBLE as it would seem to the mets organization, and maybe if Bobby invested that money right and took the payout upfront, he could have done better, but also still a really funny story.

Also this was the 2000 mets we are talking about. John Franco was probably the guy handing out investment advice at the time to players, and your returns probably mirrored what he did on the mound.
 
2022-07-01 3:31:20 PM  

LineNoise: Dafatone: Eddie Hazel's E string: Dafatone: Eddie Hazel's E string: 12349876: He just took the installments instead of lump sum.  It's an unusual move but he's not getting a ton more money in total compared to others.  You could argue the 1.1 million is losing value every year to inflation and that's a good thing for the Mets, and a lost opportunity or catastrophe avoidance for Bonilla.

Lol, what??

After being released by the Mets in 2000, he was owed the remaining $5,900,000 on his contract.

They are spending a total of $29,800,000 between the years 2011 - 2035 in order to fulfill that year of salary. That is absolutely more than other outfielders who played in 2000 were compensated, and it was not at all a wise financial decision by the Mets.

It's called interest.

No shiat. Are you or the other person going to claim the amount the Mets have paid him in interest is lower than the returns on the money they saved in 2000? Again, a hearty LOL.

Pretending this was a wash for the Mets is insane. As pointed out upthread, they did it because they were expecting Madoff-level returns for years on end. Just let us chuckle and pivot to boasting about their current division lead instead.

It's really a wash. Assuming a decent but not fraudulent investment profit, they probably lost a bit of money, but not much, and it freed up money to acquire a top pitcher for the 2000 season. That's more important than whether they "won" or "lost" the deal strictly by the numbers.

there is a time value of money thing to consider.

At the end of the day it isn't as HORRIBLE as it would seem to the mets organization, and maybe if Bobby invested that money right and took the payout upfront, he could have done better, but also still a really funny story.

Also this was the 2000 mets we are talking about. John Franco was probably the guy handing out investment advice at the time to players, and your returns probably mirrored what he did on the mound.


There will be no disparagement of John Franco and his 2.89 career ERA in this house.
 
2022-07-01 5:24:39 PM  
And Bonilla is also collecting on *another* deferred salary annuity, so he probably thinks that baseball has been very, very good to him by giving him a guaranteed retirement income that allows him to play golf whenever he wants to without having to worry about making enough money to pay for rent, utilities, and groceries (unlike us working wage slaves).
 
2022-07-01 6:22:18 PM  
In other baseball news: the farking Dodgers have banned Roger the peanut dude from throwing a bag. Which he's been doing since, you know, 1962. I hate the Dodgers but love Dodger Stadium and this dude has thrown me many many a bag over the years. farking travesty.
 
2022-07-01 6:34:33 PM  

drewogatory: In other baseball news: the farking Dodgers have banned Roger the peanut dude from throwing a bag. Which he's been doing since, you know, 1962. I hate the Dodgers but love Dodger Stadium and this dude has thrown me many many a bag over the years. farking travesty.


As pointed out in the article, they banned him from tossing a couple of times when they misinterpreted the fine print of their insurance policy, and quickly changed back. Non-story.

/there was a death from a foul ball and nobody mentioned it at all until they announced they were putting the nets up
 
2022-07-01 6:39:55 PM  

Dafatone: There will be no disparagement of John Franco and his 2.89 career ERA in this house.


Franco was one of my favorite players back then.

/also would have took that ERA when it REALLY mattered.
//Its like all of shea, collectively said, 'Oh shiat, here we go'
 
2022-07-01 6:45:37 PM  

Trocadero: drewogatory: In other baseball news: the farking Dodgers have banned Roger the peanut dude from throwing a bag. Which he's been doing since, you know, 1962. I hate the Dodgers but love Dodger Stadium and this dude has thrown me many many a bag over the years. farking travesty.

As pointed out in the article, they banned him from tossing a couple of times when they misinterpreted the fine print of their insurance policy, and quickly changed back. Non-story.

/there was a death from a foul ball and nobody mentioned it at all until they announced they were putting the nets up


I saw some lady take a bullet off of Larry Walker at Candlestick and never heard a word about it. She went down like she'd been shot. Sounded like Gallagher smashing a watermelon.
 
2022-07-01 7:41:12 PM  

LineNoise: Dafatone: There will be no disparagement of John Franco and his 2.89 career ERA in this house.

Franco was one of my favorite players back then.

/also would have took that ERA when it REALLY mattered.
//Its like all of shea, collectively said, 'Oh shiat, here we go'


Mets fans really, really blame him for the '99 NLCS loss, even though his postseason record is pretty damned good.
 
2022-07-01 7:56:28 PM  
So Bonilla is losing value on collecting... $1 million dollars each year. Heh. Poor Barry, the loss is so big, he'll have to slum at the YMCA.
 
2022-07-01 10:21:10 PM  
As I say every year on Bobby Bonilla day, the best sports deal ever made, bar none, was made by Ozzie and Daniel Silna. Over a billion dollars made and they didn't have to do anything after they signed it but count their money and laugh.
 
2022-07-02 2:19:10 AM  
It's also Rick DiPetro day, he gets a 1.2 mill from the Isles every year for another decade or so.

God I love when teams I don't like make really dumb moves.
 
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