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Happy Bobby Bonilla Day!

Steve Phillips was talking about it on the radio the other day. He's got a pretty good sense of humor about it.
 
jfields said:
“Ummmm! Let me think. A little over $5 million now, or almost $1.2 million for 25 years a little down the road in my post baseball career? Tough call?” 😂
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No shit, I'm sure his agent gets a cut of that deal! Bobby Bo Day, we should all get a deal like that!
 
I just listened to a radio show about it this morning. The headline sounds better than the details.

Bobby basically loaned the Mets his last $5.9M paycheck in 2000, and the Mets didn't have to pay on it for 10 yrs, then they started making annual payments of about $1.2M in 2011, for a total of 30 annual payments. They all agreed on an 8% interest rate. He likely could have done better by taking his last check and working with an investment advisor. Bobby said he was concerned that he'd do like most athletes and blow it all, so this was essentially a way for him to make his own pension.
 
Nihon_Ni said:
I just listened to a radio show about it this morning. The headline sounds better than the details.

Bobby basically loaned the Mets his last $5.9M paycheck in 2000, and the Mets didn't have to pay on it for 10 yrs, then they started making annual payments of about $1.2M in 2011, for a total of 30 annual payments. They all agreed on an 8% interest rate. He likely could have done better by taking his last check and working with an investment advisor. Bobby said he was concerned that he'd do like most athletes and blow it all, so this was essentially a way for him to make his own pension.
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He basically bought himself an annuity with a guaranteed 30 year payout.
 
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