buddahj Posted May 16, 2011 Share Posted May 16, 2011 As if the Mets needed more financial troubles. New York’s second baseball team is going to start paying ex-slugger Bobby Bonilla, who hasn’t played for the Mets since 1999 and retired from all of baseball in 2001, $1.2 million per year for the next 25 years ($30 million total), according to the New York Post. Bonilla’s big payday comes per an agreement reached between the two sides in order to secure the player’s exit from Queens. Rather than allowing Bonilla to collect $5.9 million for the final year of his contract in 2000, the Mets agreed to cut him but would start paying off the money in 2011 at 8 percent interest over 25 years. The current ownership group, which was hurt by the schemes of Bernie Madoff among other financial maladies, have been trying to sell a part of the team to stay financially fit. Bonilla, on the other hand, has been living quite comfortable in his time since leaving the game. According to the Post, he already earns a $500,000-per-year salary from the Orioles under similar circumstances and $200,000 from a job as a “special assistant” to the MLB Players Association. He also owns an $8 million home in Greenwich, Conn. Quote Link to comment Share on other sites More sharing options...
Ursa Majoris Posted May 17, 2011 Share Posted May 17, 2011 Good for him. Idiots made their bed, now they can lie in it. Bonilla should probably watch his back though, if that's not inheritable. Quote Link to comment Share on other sites More sharing options...
Scooby's Hubby Posted May 19, 2011 Share Posted May 19, 2011 Nice annuity! I think they are both probably broke, LoLuck Quote Link to comment Share on other sites More sharing options...
muck Posted May 19, 2011 Share Posted May 19, 2011 If they want to remain a pro franchise, they'll pay their former player. Good for Mr. Bonilla. I admire his advisors that came up with this plan. I'm a little surprised more players don't go for this sort of thing... Quote Link to comment Share on other sites More sharing options...
Ramhock Posted May 27, 2011 Share Posted May 27, 2011 Mets thought that they would just pay Bonilla the interest they were collecting from Madoff. Quote Link to comment Share on other sites More sharing options...
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