Another July 1st, another year to collect $1,193,248.20 from the Mets. He gets an annual check until 2035...

https://www.espn.com/mlb/story/_/id/29388441/bobby-bonilla-day-why-mets-pay-119-million-today-every-july-1?platform=amp

a legend at the bank

Its all about investments and decisions. The Muts thought they had a better deal by deferring so they did it. Now they are simply paying for it. I dont know how comparing todays (not yet stars) salaries to Bonilla's from 20 years ago when he was one of the Top 5 desired free agents is relevant. That is like trying to compare Mike Trout's $35m/year to whatever Mickey Mantle made....times change, economics are different, TV money is in play larger than ever, MLB.com, revenue, etc.

I think some of the old USFL contracts and ABA contracts were that way also. I think many teams are learning that deferring the money is not really a great idea. Scherzer signing was one of the best in the past decade by Nats....and Cardinal fans are still ******** about it...as they should. Another dumb decision by MOron Mozeliek.

I don't know that the Mets thought they were getting a better deal. I think they were experiencing financial stress and had to make a short-term decision at the expense of the long-term. Bonilla made out like a bandit, he more than doubled the present value of his money by deferring it (the present value of 25 $1.2M payments at 8% interest is $12.8M).

I heard their decision on the Bonilla contract was related to their investing with Madoff. They thought their return from him was high enough that it made sense to defer. I don't know if thats accurate or not but I remember hearing that discussion on a sports radio debate right after the Madoff scandal

Yes the Wilpon family was just one of many suckered in by Madoff. They lost a big portion of their fortune.

And then there's the other side of the story...

https://sportsarefromvenus.com/2019/09/19/the-history-of-bernie-madoffs-ties-to-the-new-york-mets/

very interesting. Thanks for posting Doctor. I was aware of some of the history of the Wilpons and Madoff, but that article enlightened me more. I suppose we will never know what the Wilpons knew and when they knew it. I'd like to think that they were unwitting investors in Madoff's Ponzi scheme.