How many other retired players still get paid annually like Bobby Bonilla?
And if there are others, why is Bonilla the only one the media ever talks about?
- RichardLv 63 weeks ago
I don't know, but it's a fair bet that teams will be reluctant to enter into similar deals in the future.
- conley39Lv 74 weeks ago
Bonilla is talked about because of the amount he's owed and the circumstances under which the Mets ended up paying that much deferred salary. They were victims of Bernie Madoff
- 18 gibbs 20Lv 74 weeks ago
Quite a few have deferred payments. It's not as popular in MLB as it once was. It's far more prevalent in the NFL. Bonilla gets singled out because the amount and duration were records when it happened. now it's 'a thing to being it up every year. plus the press loves to make fun of the Mets.
- curtisports2Lv 74 weeks ago
Quite a few, in all four of the major sports.
Bonilla is the extreme case, which is why it's cited so often. In 2000, the Mets decided to buy out the remainder of his contract for $5.9 million, but they didn't want to pay it out all at once. They were invested at the time in one of Bernie Madoff's schemes, and they thought leaving the money there would pay off bigger than paying Bonilla over time. So they got Bonilla to agree to wait until July 1, 2011, to start seeing his retirement of almost 1.2 million a year for 25 years. Included in that was an interest rate of 8%. Try getting that today, or in the last ten years, or in the next ten.
This was an extreme case. It's why July 1 is known as 'Bobby Bonilla Day'.
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- u_bin_calledLv 74 weeks ago
There's actually quite a few and many more coming (Max Scherzer and Chris Sale, for example, stand to make over $10 million after they retire all the way to around 2030)...
The biggest I recall in terms of length was given to reliever Bruce Sutter by the Atlanta Braves. That one, I believe, will pay him just over a million per year through 2022 or 2023 AND includes a $10 million dollar last payment....
...that's over $40 million earned in the 30+ years after AFTER retirement...
- LegFuJohnsonLv 74 weeks ago
Yes, there are others, but Bonilla gets a lot, plus his deal was based on the interest the Mets thought they were getting from Madoff, so they look foolish.