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An Old Hippie

Strange Contracts

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This probably doesn't belong anywhere but I am watching Hot Stove on the MLB network. They are talking about Soriano maybe going to the Mets. If he does Soriano becomes the highest paid Mets OF.

Now the twist. Care to name the 2 highest Met OF going into this season.

Jason Bay was the easy one.

Bobby Bonilla is the second one. He last played for the Mets in 1999. The contract was signed for the 1995 season.

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Ouch. That "deferred compensation" at an 8% interest rate doesn't look so smart now, does it?

The Mets should just bite the bullet and pay Bonilla $20 MM (or whatever it takes) to go away. Then trade Santana in late May before his arm falls off. They need a clean slate to start from. Well, Ike Davis, Travis D'Arnaud, Matt Harvey, David Wright, and 21 clean slates.

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Nevertheless, starting on July 1, 2011, Bobby Bonilla will remain on the franchise's payroll for 25 years, collecting an annual salary of $1,193,248.20.

That must be so awesome

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There's also Manny Ramirez

Red Sox are going to be paying him $1.94 million a year from now until 2027. Oh, and the Dodgers are paying him $8.3 million....this season

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I do believe that Bernard Gilkey is still being paid by the Mets... no? Or are the D'Backs paying him? Someone still is!

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From 2009.. so I dunno what has or hasn't been resolved. From an old article, just a snippet:

Diamondbacks president and CEO Derrick Hall said that the team paid off $16 million this year and will pay off $15 million in 2010, $14 million in 2011 and $13 million in 2012. By 2013, the Diamondbacks will have less than $1.5 million to pay off. Matt Williams’ payments come off in 2014 and Gilkey, whose annual checks go up to as much as $1 million, will be the last one to come off the books in 2017.

Matt Williams is still collecting too I guess.... :lol:

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A bigger bit of the article, including Bobby B...

The Arizona Diamondbacks payroll shows up at around $73 million this season, but in reality, the team that has likely deferred more money than any other in the history of sports, will cut checks totaling $90 million.

Those payments not only go to active players like Dan Haren and Mark Reynolds, but the team will also be paying off past players like Gilkey, Randy Johnson, Luis Gonzalez, Armando Reynoso, Curt Schilling, Matt Williams and Roberto Alomar.

The Diamondbacks past ownership was all about doing what they had to to win. It worked. In 2001, they agreed to pay its roster of players $85 million and beat the Yankees in the World Series that year. But doing what they had to do to win also meant deferring $244 million that they owed to players.

When Ken Kendrick took over the team in 2004, the Diamondbacks started paying back. The payment schedule was sped up when baseball changed the debt rules a couple years ago.

Diamondbacks president and CEO Derrick Hall said that the team paid off $16 million this year and will pay off $15 million in 2010, $14 million in 2011 and $13 million in 2012. By 2013, the Diamondbacks will have less than $1.5 million to pay off. Matt Williams’ payments come off in 2014 and Gilkey, whose annual checks go up to as much as $1 million, will be the last one to come off the books in 2017.

When fans look at our payroll, they don’t realize that we’re also paying former players,” Hall said.

Gilkey, who played 12 seasons in the league, played 161 games with the Diamondbacks from 1998-2000, earned about $12 million for his work. By deferring it, he obviously gets paid in installments and gets a bit more since the team pays between 2 and 7 percent interest on the owed money.

The most interesting salary deferral story could be the one of Bobby Bonilla. The Mets will reportedly pay from 2011 to 2035 for the $5.9 million salary they owe him from 2000, a season in which he didn’t even play for the team.

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I keep telling friends that their kids should play baseball.

Even better is if they are a lefty pitcher. If they are a lefty and don't pitch ... TEACH THEM!

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Maybe Schilling can invest in another video game company...SBOX? CStation? The Cii? He'll make it to that "Bill Gates rich" yet :lol:

I love hearing the Bonilla story, seems to pop up this time every year.

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I keep telling friends that their kids should play baseball.

League minimum is $400K. I train a lot of kids for sports (mainly baseball) and make sure they all know that.

But in all honesty if you want to be a professional baseball player outside of winning the genetic lottery you have to work super hard and need to be self motivated well beyond money to get it.

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seems like a good idea to defer compensation at 8% annually when you've got Madoff making 20 or 30% on those dollars. they essentially just leveraged Bonilla and his contract.

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Nevertheless, starting on July 1, 2011, Bobby Bonilla will remain on the franchise's payroll for 25 years, collecting an annual salary of $1,193,248.20.

That must be so awesome

your avatar is incredible. I'm now going to like every one of your posts I see as long as Heath is still smiling at me.

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Lol. I remember seeing this as his profile pic for his yahoo player page last year. It was also his official pic on mlb.com whenever you used mlb gameday, which made his blown saves more incredible. Always seemed like he was trolling the fans by blowing the game and you are just following along on mlb gameday having to see that goofy smile of his....as the game is in progress of being blown/lost. I couldn't imagine being a Marlins fan who didn't get the games on TV and didn't order mlb.tv, being forced to follow along on mlb gameday and having to see that face. So cruel

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