Bobby Bonilla Gets $1 Million A Year From The Mets (He Retired In 2001)
Soak that tweet in. Bobby Bo gets $1 mill from the Mets per year until 2035 because the Mets wanted to get rid of him that bad. How did this happen? Ready below.
Via Source: “It was when he came back to the Mets in 1999 that things went straight downhill. He spent most of the season arguing with manager Bobby Valentine, and at the end of the year the Mets decided to buy out his contract. However, instead of paying
him a lump sum of the $5.9 million they owed him, they decided to defer payment
on the contract until 2011, and then pay him over a million a year for 25 years,
assuming an interest rate of 8 percent.”
I need to find a job where I can suck so much that they release me but don’t want to pay me out right there. Just so I can negotiate a plan for me to get way more money than I’m worth decades after I’ve retired. Is that even possible? I mean other than Bobby Bo of course.
P.S. I know for a fact that Ichiro has a deal like this from the Mariners. Via Wikipedia: “The Associated Press reported that Ichiro’s contract extension defers $25 million of the $90 million at 5.5% interest until after his retirement, with payments through 2032.” So there’s that.