Bobby Bonilla's 25-Year Contract with The New York Mets (2011)
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Bobby Bonilla's 25-Year Contract with The New York Mets (2011)
1–10 of 57 posts
Re: Bobby Bonilla's 25-Year Contract with The New York Mets (2011)
#2Worst or best? That's quite a retirement plan.
Edit: title changed on me.
Re: Bobby Bonilla's 25-Year Contract with The New York Mets (2011)
#3"Today" is in 2011
Re: Bobby Bonilla's 25-Year Contract with The New York Mets (2011)
#4"Today" is in 2011
July 1st though, so basically just 11 days ago..
This post needs a [2011]
Re: Bobby Bonilla's 25-Year Contract with The New York Mets (2011)
#5Einstein something, something, compound interest.
Amazing what saving money at an 8% interest rate will do for your future self! The S&P has only returned 4.8% CAGR [1] from 2000-2018 so that was a pretty tremendous ROI for Bonilla.
Re: Bobby Bonilla's 25-Year Contract with The New York Mets (2011)
#6Fun fact -> They offered this because they were getting such good returns (greater than 8%) through Bernie Madoff, and figured they could just pay off the contract interest through that
Re: Bobby Bonilla's 25-Year Contract with The New York Mets (2011)
#7The article doesn't mention that team owner Fred Wilpon thought deferring Bonilla's contract was a great idea because he could use the savings at the time to invest in Bernie Madoff's fund.
https://www.nytimes.com/2012/02/21/sports/baseball/mets-saw-...
Re: Bobby Bonilla's 25-Year Contract with The New York Mets (2011)
#8Somewhat related is the best contract in sports history:
https://en.wikipedia.org/wiki/Ozzie_and_Daniel_Silna#The_dea...
Re: Bobby Bonilla's 25-Year Contract with The New York Mets (2011)
#9Since this comes up every year, might as well point out this isn't an isolated case.
Tweet thread covering various ones (as of last year): https://twitter.com/mikemayerMMO/status/1013295573779312640
Re: Bobby Bonilla's 25-Year Contract with The New York Mets (2011)
#10Worst or best? That's quite a retirement plan. Edit: title changed on me.
Seems like it worked well for everyone. The Mets are paying out less than they would have if they'd paid the money at the time and because of the savings were able to acquire players that helped them go onto the WS. Bonilla keeps getting ~ a million dollars every year.