Bobby Bonilla Day - The Mets Are Not the Only Ones

[Gugny]

Bonilla's deferred salary with the Mets is the most famous July 1 payment in baseball, hands down, but it is not the only July 1 payment in the game. In fact, Bonilla himself has a second deferred salary agreement with the Orioles. Baltimore owes him $500,000 a year from 2004-28. July 1 is a good day in the Bonilla household.

 

Here are a few other notable deferred salary payment plans:

 

• The Braves have paid Hall of Fame closer Bruce Sutter roughly $1.2 million each year since 1991. Next year is the final year of Sutter's deferred salary plan. The team also owes him a $9.1 million lump sum payment in 2022. 
• The Reds have paid Ken Griffey Jr. approximately $3.6 million each year since 2009 and will continue to do so through 2021.
• The Red Sox have paid Manny Ramirez approximately $2 million each year since 2011 and will continue to do so through 2026.
• The White Sox have paid Paul Konerko $1 million each year since 2014 and will continue to do so through 2021.
• The Mets have paid Bret Saberhagen $250,000 each year since 2004 and will continue to do so through 2028.
• The Nationals tend to load up their largest contracts with salary deferrals. They're paying Rafael Soriano roughly $2 million annually through 2024, Max Scherzer is owed $15 million a year from 2022-28, and Stephen Strasburg has approximately $114 million in deferred salary coming to him through 2029. Not bad work if you can get it.

 

https://www.cbssports.com/mlb/news/july-1-is-bobby-bonilla-day-why-the-mets-still-owe-him-1-19-million-a-year-until-hes-72/#:~:text=Sign%20Up-,July%201%20is%20Bobby%20Bonilla%20Day%3A%20Why%20the%20Mets%20still,a%20year%20until%20he's%2072&text=For%20more%20than%20a%20few,day%20on%20the%20baseball%20calendar.

[billsfanmiami(oh)]

I’m in the wrong line of work

[PetermansRedemption]

I cannot for the life of me figure out how the Mets ever thought it would be better to defer compensation at 8% interest rather than just pay the money. 5.9 million turned into, 27 million? Even if they were certain Madoff could continue to return 10%, you are taking a huge downside risk for just a 2% upside. 

[4merper4mer]

17 hours ago, PetermansRedemption said:

I cannot for the life of me figure out how the Mets ever thought it would be better to defer compensation at 8% interest rather than just pay the money. 5.9 million turned into, 27 million? Even if they were certain Madoff could continue to return 10%, you are taking a huge downside risk for just a 2% upside. 

Well to be fair they are one of the most laughable organizations in the history of sports.

[RaoulDuke79]

This always cracks me up.  A good accountant/agent is worth those dolla bills

 

[Gugny]

2 hours ago, Jaraxxus said:

Don't be mad bro. Bonilla day is bonilla day.

 

I'm over it ... until next year.

 

Funny/true story:  A young employee where I work (early 20s) is a Mets fan.  On Friday, he asks me, "hey, you hear about that dude that's getting over a million dollars from the mets for like 20 years?"

 

I just looked at him and said, "are you trying to ruin my day?"   He had no clue that BB Day was a thing.  Hilarious.

[Kevbeau]

Are the Sabres done paying Erhoff and Leino?

[Tierlifer]

On 7/2/2020 at 6:57 AM, PetermansRedemption said:

I cannot for the life of me figure out how the Mets ever thought it would be better to defer compensation at 8% interest rather than just pay the money. 5.9 million turned into, 27 million? Even if they were certain Madoff could continue to return 10%, you are taking a huge downside risk for just a 2% upside. 

They were able to afford Mike Hampton in 99 and we’re ready to extend him when he walked to Colorado. With the compensatory pick they got from Colorado they drafted David Wright. Also with the freed up money they were able to extend Mike Piazza who went on to have a pretty damn good Mets career. 

[Gugny]

1 hour ago, Tierlifer said:

They were able to afford Mike Hampton in 99 and we’re ready to extend him when he walked to Colorado. With the compensatory pick they got from Colorado they drafted David Wright. Also with the freed up money they were able to extend Mike Piazza who went on to have a pretty damn good Mets career. 

 

Man, Hampton was one weird sumbitch, wasn't he??

 

And yes ... Piazza and Wright are two of the greatest Mets of all time.

[Mike in Horseheads]

15 minutes ago, Gugny said:

 

Man, Hampton was one weird sumbitch, wasn't he??

 

And yes ... Piazza and Wright are two of the greatest Mets of all time.

Happy Bobby Bonnila month!?

[PetermansRedemption]

On 7/6/2020 at 2:01 PM, Tierlifer said:

They were able to afford Mike Hampton in 99 and we’re ready to extend him when he walked to Colorado. With the compensatory pick they got from Colorado they drafted David Wright. Also with the freed up money they were able to extend Mike Piazza who went on to have a pretty damn good Mets career. 

I’m not a baseball fan, in fact I don’t think I could name one modern day player. But I didn’t think there was a salary cap? Couldn’t the Mets have afforded those players regardless? Considering the owners were just shoving the money to Bernie Madoff anyways? 

[Tierlifer]

On 7/7/2020 at 10:08 AM, PetermansRedemption said:

I’m not a baseball fan, in fact I don’t think I could name one modern day player. But I didn’t think there was a salary cap? Couldn’t the Mets have afforded those players regardless? Considering the owners were just shoving the money to Bernie Madoff anyways? 

There wasn’t an endless supply under the Wilpon regime. Money was flush but they only spent just enough to show they were trying but not always in he right spots. 

Edited July 19, 2020 by Tierlifer

[Gugny]

On 7/7/2020 at 10:08 AM, PetermansRedemption said:

I’m not a baseball fan, in fact I don’t think I could name one modern day player. But I didn’t think there was a salary cap? Couldn’t the Mets have afforded those players regardless? Considering the owners were just shoving the money to Bernie Madoff anyways? 

 

Similarly to the Bills, the Mets spent plenty of money.  What they didn't do (and continue to not do) is get a good GM who knows HOW to spend the money.