http://www.espn.com/blog/new-york/m...la-day-his-annual-1-19-million-payday-is-here
METS = F*cking stupid organization!!
METS = F*cking stupid organization!!
Happy Bobby Bonilla Day! $1,193,248.20 to be paid to him by the Mets!
- Thread starter TheGLOV
- Start date
Wait until details of PSU's Athletic Facilities Master Plan are announced. Then you'll see real financial genius.
Well, remember, there's about a 5% agent fee, and then there's federal, state, and local taxes, so maybe he's netting about $600K. Still, I wish someone would hand me a deal like that....
Another in a long line of stupid trades and blunders. 50 years of being a frustrated fan if that team
My Pirates are not the valedictorians of the baseball world either. Believe me when I say that.
Just look at Cole's and Morton's pitching records this year as compared to when they played on the Pirates.
Oh yes it should be in the top 10 of bad contracts.
The Mets gambled on market-conditions was it, and lost. Big time.
Don't blame the whole organization, just the Wilpons and uncle Sol.
Hey, Mr. Ice Cream Rod gets $40K/mo for the rest of his life. If I were him I'd be sleeping in a hyperbaric pod and eating kale hoagies wrapped in kale with flaxseed seasoning. That's state tax exempt too, BTW.
Last edited:
I love how incorrect this "business insider" click page is.
This deal was incredibly stupid for the Mets. There's no "8% interest" bank. The UST rate... the closest thing to guaranteed was around 5.50% at the time. So the Mets LOST 2.5% per year.
This only made sense for the Mets because they were "earning" 18% returns with Madoff... guaranteed.
Well, so, the Mets were double stupid weren't they?
LdN
The Wilpons have had their tentacles in since 1981. They bought out Doubleday in the late 90's.
Bobby moved to Florida, so he has no state income tax to worry about when he receives his annual windfall
OMG
The Mets invested in Treasuries?
Comedy Gold - without even trying.
You have a reading problem.
8 percent... that is an arbitrary incorrect number selected to make the deal seem good for the mets.
Bobby... he had a 7 plus percent guaranteed return... otherwise impossible.
You ignored the facts i posted... all tvm is based on the risk free rate of us treasuries.
This is a waste of my time since apparently you have no interest in learning.
The Mets were idiotic. Noone at that time was offering 8 percent annuities... except the mets. The guys investing with Madoff.
LdN
As i mentioned above... one has to remember the Wilpons were investing with Madoff and his fictitious 15 percent annual gains. Under this scenario... it made sense to give bonilla a guaranteed 7.5 percent return on his money.
But... under no circumstance did Bonilla make a bad trade. 7.5 percent guaranteed is 200 to 300 bps better than he could get otherwise.
Ldn
