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  1. #1
    Join Date
    Nov 2010
    Location
    Annapolis MD
    Posts
    14,269

    Happy Bobby Bonilla Day!

    Your annual reminder that today is Bobby Bonilla Day. Enjoy it!

  2. #2
    Join Date
    Aug 2004
    Location
    The Boogie Down
    Posts
    95,174
    It’s like winning a million dollars a year.


    Sent from my iPhone using Tapatalk

  3. #3
    Join Date
    Jun 2008
    Posts
    11,518
    What am i missing here? He do something funny?


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  4. #4
    Join Date
    Feb 2009
    Posts
    40,228
    Just celebrated by taking a poop

  5. #5
    Join Date
    Oct 2008
    Location
    Chi-Town
    Posts
    6,777
    Quote Originally Posted by Lincecum4CY View Post
    What am i missing here? He do something funny?


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    He gets a million dollars every year on this day Every July 1, from 2011 to 2035

    #FreeYagyu And CSSTL

  6. #6
    Join Date
    Jun 2008
    Posts
    11,518
    Quote Originally Posted by Silent View Post
    He gets a million dollars every year on this day Every July 1, from 2011 to 2035
    Lol. Must be nice.

    Isnt Scherzar or Strasburg contract similar? Where they get a million every year for like 20 years once their contract is up?


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  7. #7
    Join Date
    Jan 2006
    Location
    La Puente, CA
    Posts
    12,734
    Why don't you guys bump up the old threads and merge them instead?

    Future Hall of Shamers:
    (1) B.A.L.C.O. Barroids (2) Mark McJuicer (3) Jose Chem-seco (4) Rafael Palmeiroids (5) Ken Chem-initi (6) Jason Gi-andro (7) Ryan Fraud (8) Muscle Melk (9) Woman-Ram (10) Shammy Sosa (11) Roger Clear-mens (12) A-Roid (13) Ryan HGHoward

  8. #8
    Join Date
    Dec 2008
    Location
    Brooklyn New York
    Posts
    18,420
    **** you, Thomas. I didn’t need to be reminded of this.

  9. #9
    Join Date
    Nov 2010
    Location
    Annapolis MD
    Posts
    14,269
    Quote Originally Posted by Lincecum4CY View Post
    Lol. Must be nice.

    Isnt Scherzar or Strasburg contract similar? Where they get a million every year for like 20 years once their contract is up?


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    They might be getting deferred payments, but here is how it's different: http://www.espn.com/blog/new-york/me...payday-is-here

  10. #10
    Join Date
    Jul 2010
    Posts
    53,570
    Quote Originally Posted by Zmaster52 View Post
    **** you, Thomas. I didn’t need to be reminded of this.
    I don't think it really negatively hurt the Mets when it happened.

    The Madoff stuff hurts way worse.

  11. #11
    Join Date
    May 2007
    Posts
    37,904
    Yeah. I don't see that $1MM/year having any significant impact on the Mets payroll and/or day to day activities.

    "there's no scraps in my scrapbook"

  12. #12
    Join Date
    Dec 2008
    Location
    Brooklyn New York
    Posts
    18,420
    You’re both right. It does however show the incompetency of the franchise.

    Mets are still paying Cliff Floyd and lord knows who else. It might not hurt the team but that doesn’t negate the fact that it was still a bad decision.

  13. #13
    Join Date
    Jul 2010
    Posts
    53,570
    Quote Originally Posted by Zmaster52 View Post
    You’re both right. It does however show the incompetency of the franchise.

    Mets are still paying Cliff Floyd and lord knows who else. It might not hurt the team but that doesn’t negate the fact that it was still a bad decision.
    Deferred money.

    It's the time value of money.

    they owed him $5.9M in 2000.

    That money is worth $9M today in a standard inflation calculator. It's worth $15.1M if we go back 35 years, which is the length of time this deal takes to run through.

    And this spreads out through 2035.

    The value of $5.9M to the franchise in 2000 when it's value was around $450M compared to today when it's worth north of $2B. That's 5 times what it was worth, and that value of the money then compared to today through 2035 is insane.

    The Mets would likely do that same deal again.

    Teams will defer money everywhere they can. They can reinvest that cash to make a good amount more.

    If they had $5.9M sitting in the stock market at the average rate of return of 7% annually, that $5.9M is worth $413K per year. Over 35 years, that is worth $14.5M. Making the total asset value over $20M. They are paying him a total of $29M, and they would also collect interest on their current returns before paying out throughout the first half.

    It's likely a wash to the franchise, or close to it.

    People act like it's some horrible deal for the Mets, it's really not.


    Plus, I'm certain there is a tax benefit to Bonilla in this process. Which is the real value he probably sees. Yes, $5.9M was turned into $29M. But his taxable income in 2000 had to be significantly greater than the rest of his lifetime, and he gets a nice return on basically investing in the Mets franchise.
    Last edited by Jeffy25; 07-02-2018 at 05:45 PM.

  14. #14
    Join Date
    Sep 2010
    Location
    East of the Sun, West of the Moon
    Posts
    27,090

    Happy Bobby Bonilla Day!

    Quote Originally Posted by Jeffy25 View Post
    Deferred money.

    It's the time value of money.

    they owed him $5.9M in 2000.

    That money is worth $9M today in a standard inflation calculator. It's worth $15.1M if we go back 35 years, which is the length of time this deal takes to run through.

    And this spreads out through 2035.

    The value of $5.9M to the franchise in 2000 when it's value was around $450M compared to today when it's worth north of $2B. That's 5 times what it was worth, and that value of the money then compared to today through 2035 is insane.

    The Mets would likely do that same deal again.

    Teams will defer money everywhere they can. They can reinvest that cash to make a good amount more.

    If they had $5.9M sitting in the stock market at the average rate of return of 7% annually, that $5.9M is worth $413K per year. Over 35 years, that is worth $14.5M. Making the total asset value over $20M. They are paying him a total of $29M, and they would also collect interest on their current returns before paying out throughout the first half.

    It's likely a wash to the franchise, or close to it.

    People act like it's some horrible deal for the Mets, it's really not.


    Plus, I'm certain there is a tax benefit to Bonilla in this process. Which is the real value he probably sees. Yes, $5.9M was turned into $29M. But his taxable income in 2000 had to be significantly greater than the rest of his lifetime, and he gets a nice return on basically investing in the Mets franchise.
    You lost Z when you started doing math.

    Deferring Bonilla’s money was a win/win for the Mets and for Bonilla at the time since the $5.8 buyout would presumably have come from funds in a Madoff account which was earning 11% or better interest.

    Fans don’t understand how Mets ownership was using Madoff accounts to support payroll - at least indirectly. For example the Mets “self insured” the Johan Santana contract with a Madoff account.


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    Last edited by Dugmet; 07-03-2018 at 06:58 AM.
    Baseball Maverick: How Sandy Alderson Revolutionized Baseball and Revived the Mets
    I am that Daddy Cool

  15. #15
    Join Date
    Jul 2010
    Posts
    53,570
    Quote Originally Posted by Dugmet View Post
    You lost Z when you started doing math.

    Deferring Bonilla’s money was a win/win for the Mets and for Bonilla at the time since the $5.8 buyout would presumably have come from funds in a Madoff account which was earning 11% or better interest.

    Fans don’t understand how Mets ownership was using Madoff accounts to support payroll - at least indirectly. For example the Mets “self insured” the Johan Santana contract with a Madoff account.


    Sent from my iPhone using Tapatalk
    Yup, that scandal really damaged the owners.

    Time value of money is a very real thing. People are seeing $5.9M and thinking the Mets just instead decided to give Bonilla $29M instead. That isn't the case.

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