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Os still paying Bobby Bonilla $250,000 per season until 2023

weams

By weams
in Orioles Talk

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Aglets Hangout Grand Counsel

Aglets

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2 minutes ago, Sports Guy said:

We will be having Chris Davis day for a while as well.  

Only 17 years to go!

We are supposed to defer $6M every year for him through 2022 (a total of $42M) which then gets paid out to him in small chunks through 2037.

Wonder how the 2020 salary gets all divided up assuming he plays for 60 days.

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SteveA Hangout Grand Counsel

SteveA

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12 minutes ago, Aglets said:

Only 17 years to go!

We are supposed to defer $6M every year for him through 2022 (a total of $42M) which then gets paid out to him in small chunks through 2037.

Wonder how the 2020 salary gets all divided up assuming he plays for 60 days.

"Small chunks".... each of which is about the sum total of what I have earned in my entire 32 year career in a tech field.

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DrungoHazewood Hangout Grand Counsel

DrungoHazewood

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1 hour ago, weams said:

What a way to plan for retirement. Huzzah. Bobby Bo. Push Cal. Up those steps. 

Bonilla would have been better off if he'd taken the money up front and invested it in a relatively safe place.  But if he knew that was beyond his willpower and he would have burned through it years ago, I guess good on him for being honest.

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Frobby Hangout Grand Counsel

Frobby

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Very good discussion of the economics of this deal in this old ESPN article.  It’s important to remember that interest rates were much higher in 2000 than they are today.   Basically, he bought a bond at 8% and now interest rates on similar bonds are at like 3%.    So, things worked out in his favor if you look at it that way.   But that wasn’t the agent’s doing.    
https://www.espn.com/mlb/story/_/id/16650867/why-mets-pay-bobby-bonilla-119-million-today-every-july-1-2035

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BohKnowsBmore Hangout Grand Counsel

BohKnowsBmore

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1 hour ago, Beef Supreme said:

Bonilla's total contract value would have been lower had he taken all the money during his career. Deferred payments increased the contract's total value.

Yea, the thing that makes Bonilla's deal notable (other than the total timeline) is the discount rate/return used to calculate the deferrals

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