July 1st is Bobby's favorite day because that is pay day. The Mets pay him $1.19 million every year for 25 years (which started in 2011). That was part of his deferred compensation agreement. The Mets originally owed 5.93 million and agreed to the $25 million at 8% interest. Of course, at the time, the Mets ownership didn't care because they were making double digit returns on their investment with Bernie Madoff --- do'h
Mets Still Paying Bobby Bonilla
- Thread starter Fijimn
- Start date
Don't forget the second part.
Meanwhile, believe it or not, the Mets annually make a second payment to Bonilla, too.
CBSSports.com reported in 2013 that Bonilla receives a separate payment for 25 years, which is the shared responsibility of the Mets and Baltimore Orioles and runs through 2028. The Mets reportedly are required to pay slightly more than half of the annual $500,000 sum, which stems from Bonilla’s original tour of duty with the Mets.
Meanwhile, believe it or not, the Mets annually make a second payment to Bonilla, too.
CBSSports.com reported in 2013 that Bonilla receives a separate payment for 25 years, which is the shared responsibility of the Mets and Baltimore Orioles and runs through 2028. The Mets reportedly are required to pay slightly more than half of the annual $500,000 sum, which stems from Bonilla’s original tour of duty with the Mets.
I remember reading an interview with Mike Piazza, might of been in Mens Health or maybe even Playboy. But at the time he was making $10,000,000 a year. He said he received a check every two weeks for $384,000 all year long and had checks sitting at around that he hadn't had time to cash yet.
I remember that was the first time I realized how much money 10 million actually was...it gave me perspective.
10 million is a drop in the bucket for well known athletes today. This was back in 1999 or so when I read the article.
I remember that was the first time I realized how much money 10 million actually was...it gave me perspective.
10 million is a drop in the bucket for well known athletes today. This was back in 1999 or so when I read the article.
He was a smart man and thankfully former 76'er great Iverson had a great friend that saw him blowing through his money and hide some in a very good investment. At the age of 45 he'll be able to take 1 million a year until 55, then he gets the ballance, around 30 million. If it wasn't for that "true friend" he'd be broke as hell..
This isnt even the worst contract. Check these out.
http://hardballtalk.nbcsports.com/2...ney-deal-in-the-game-and-isnt-even-the-worst/
http://hardballtalk.nbcsports.com/2...ney-deal-in-the-game-and-isnt-even-the-worst/
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