Baseball for the Thinking Fan

Login | Register | Feedback

btf_logo
You are here > Home > Baseball Newsstand > Discussion
Baseball Primer Newsblog
— The Best News Links from the Baseball Newsstand

Sunday, May 15, 2011

Bonilla begins earning $30M from Mets

Back in 1999, all the Mets wanted was to get rid of Bonilla, who in between strikeouts fought with manager Bobby Valentine and infamously played cards with fellow grumbler Rickey Henderson in the clubhouse while their teammates were losing the pennant in Atlanta.

But the club still owed him $5.9 million for the next and final year of his bloated contract, so the two sides struck a deal: the Mets would put off paying until 2011 but would tack on eight percent compounded interest, jacking the total tab to $29.8 million by the time it is paid off.

PreservedFish Posted: May 15, 2011 at 04:01 PM | 16 comment(s) Login to Bookmark
  Tags: mets

Reader Comments and Retorts

Go to end of page

Statements posted here are those of our readers and do not represent the BaseballThinkFactory. Names are provided by the poster and are not verified. We ask that posters follow our submission policy. Please report any inappropriate comments.

   1. philly Posted: May 15, 2011 at 07:44 PM (#3827815)
So they give Madoff that 5.9M and he doubles the money every year and then only have to pay out an 8% premium eleven years down the road? Sweet deal.
   2. RJ in TO Posted: May 15, 2011 at 07:50 PM (#3827824)
He's already earned it. Now he's just getting paid.
   3. bobm Posted: May 15, 2011 at 07:51 PM (#3827828)
Bobby Bonilla's annuity - the gift that keeps on giving.
   4. deputydrew Posted: May 15, 2011 at 07:59 PM (#3827837)
I know there have been a couple of articles about the Royals long-term deferrals to Quiz, Brett and Willie Wilson lately. As a kid of about 10 or 12 when those were signed, I actually remember those from the time. Just like I remember the Bobby Bonilla deal. My general recollection is that most people thought they were nuts at the time...
   5. BDC Posted: May 15, 2011 at 08:23 PM (#3827873)
Can they activate Bonilla? He's got to be better than Jason Bay at this point.
   6. JH (in DC) Posted: May 15, 2011 at 08:50 PM (#3827905)
Some of the other quotes from the original New York Post story that this was cribbed from are amazing:

For walking-around money, he holds a cushy $200,000-a-year job as a "special assistant" at the MLB Players Association in Manhattan but doesn't have to go into the office.

Asked what his duties entailed, a woman there said, "He just talks to the players."

Migdalia [his ex-wife] said she urged Robert, as she calls him, to accept the delayed deal.

"I made it very clear we can't take [the lump-sum $5.9 million]," she said. "I said, 'You'll just end up spending it.' "
   7. David Nieporent (now, with children) Posted: May 15, 2011 at 09:16 PM (#3827931)
Once more, we see innumeracy from the media. Do they not understand the time value of money? (Again: yes, both sides gambled on where interest rates would be, and Bonilla won. But the media acts as if receiving a higher dollar figure years down the road is in itself a windfall.)


For walking-around money, he holds a cushy $200,000-a-year job as a "special assistant" at the MLB Players Association in Manhattan but doesn't have to go into the office.
A cheap shot. The implication is that he's not doing anything for the money, but if his job is to be a liaison to the players, why would he "have to go into the office" to do it?
   8. smileyy Posted: May 15, 2011 at 09:23 PM (#3827937)
Regardless of how much work Bonilla does, why is the moral "shame" of a sinecure on the person in the position? Sometimes you just want to be overpaid.
   9. bobm Posted: May 15, 2011 at 09:38 PM (#3827945)
[7]
Once more, we see innumeracy from the media. Do they not understand the time value of money? (Again: yes, both sides gambled on where interest rates would be, and Bonilla won. But the media acts as if receiving a higher dollar figure years down the road is in itself a windfall.)


Did Wilpon really gamble on where interest rates would be? If you believe Picard, Wilpon took the money and invested it with Bernie Madoff for a sure 10-12% for 12 years, while having to pay Bonilla only 8% interest. Seems more like he gambled on the continued existence / non-detection of the Ponzi scheme.
   10. TerpNats Posted: May 15, 2011 at 11:50 PM (#3828047)
That money will fund a lot of charity bowling tournaments.
   11. Tulo's Fishy Mullet (mrams) Posted: May 16, 2011 at 01:05 AM (#3828190)
Speaking of Picard and the Mets.

Madoff and the Mets

Mets have bigger problems than wringing their hands over this ancient BobbyBo deal.
   12. Bruce Markusen Posted: May 16, 2011 at 01:19 AM (#3828226)
Please, spare me the tears for Bobby Bonilla. This guy created so many problems--for himself and by himself--during his days in New York.
   13. True Blue Posted: May 16, 2011 at 01:41 PM (#3828724)
How differnet would life had been twenty years ago if the Mets had listened to Mike and the Mad Dog and passed on Bonilla to wait a year for Barry Bonds to be a free agent?
   14. Lassus Posted: May 16, 2011 at 02:00 PM (#3828749)
Following the advice of Mike and the Mad Dog, just on principle, designates you to failure.
   15. SoSH U at work Posted: May 16, 2011 at 02:29 PM (#3828778)
How differnet would life had been twenty years ago if the Mets had listened to Mike and the Mad Dog and passed on Bonilla to wait a year for Barry Bonds to be a free agent?


So they end up with neither guy.
   16. SOLockwood Posted: May 16, 2011 at 02:40 PM (#3828785)
This payment would have been pursuant to the 4-year contract Bonilla signed with the Marlins on 11/22/96. It had nothing to do with the Free Agent deal he signed with the Mets in 1991.

You must be Registered and Logged In to post comments.

 

 

<< Back to main

BBTF Partner

Dynasty League Baseball

Support BBTF

donate

Thanks to
Dingbat_Charlie
for his generous support.

You must be logged in to view your Bookmarks.

Hot Topics

NewsblogMiguel Cabrera confirms plans to retire after 2023 season, but wants to stay in baseball
(19 - 7:04pm, Nov 30)
Last: Booey

NewsblogAaron Judge rumors
(10 - 7:03pm, Nov 30)
Last: kubiwan

NewsblogInside the decline of MLB’s star center fielders - Sports Illustrated
(10 - 6:57pm, Nov 30)
Last: The Yankee Clapper

NewsblogThe Great Player of Year X | Articles | Bill James Online
(60 - 6:37pm, Nov 30)
Last: Jaack

NewsblogDisney Pays $900M for MLB’s Remaining Stake in Streaming Company BAMTech
(4 - 6:19pm, Nov 30)
Last: Cris E

NewsblogPadres, Diamondbacks Among Teams Interested In Xander Bogaerts
(9 - 6:17pm, Nov 30)
Last: Cris E

NewsblogOT - World Cup Thread
(389 - 6:00pm, Nov 30)
Last: Biff, highly-regarded young guy

NewsblogEach club's most intriguing unprotected Rule 5 Draft option
(16 - 4:35pm, Nov 30)
Last: Der-K's tired of these fruits from poisoned trees

Newsblog2022-23 NBA Kick-Off Thread
(603 - 4:04pm, Nov 30)
Last: Your favorite TFTIO, me!

NewsblogMLB offseason survey - Free agency and trade predictions
(3 - 2:06pm, Nov 30)
Last: RoyalsRetro (AG#1F)

Hall of MeritMost Meritorious Player: 2022 Discussion
(28 - 2:01pm, Nov 30)
Last: DL from MN

NewsblogToronto Blue Jays hire Don Mattingly as bench coach
(1 - 11:59am, Nov 30)
Last: Random Transaction Generator

NewsblogDave Hillman, the oldest living Met, dead at 95
(6 - 11:23am, Nov 30)
Last: It's regretful that PASTE was able to get out

NewsblogOT - November* 2022 College Football thread
(382 - 9:09am, Nov 30)
Last: Stevey

NewsblogHall of Famer Jeff Bagwell criticizes Astros' recent tilt toward analytics but says he doesn't want GM job
(23 - 12:10am, Nov 30)
Last: What did Billy Ripken have against ElRoy Face?

Page rendered in 0.3719 seconds
45 querie(s) executed