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New York Mets (2x World Series Champions)

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ScriptOhio said:
Just WOW, great retirement program if you can get it.....

It’s Bobby Bonilla Day: Mets to make latest $1.2 million payment to former All-Star

Bobby Bonilla has a million reasons to smile this morning.

The ex-Met is scheduled to receive the latest in his seemingly unending stream of $1.2 million payments from the team as part of his 2000 contract buyout with the Wilpons.

July 1 was the agreed-upon payment date between the former All-Star and the Mets when they negotiated a buyout of the $5.9 million remaining on his contract. Rather than pay Bonilla outright, the Mets concocted a 25-year, interest-accruing payment plan, which will give Bonilla, now 52, $1,193,248.20 every July 1 from 2011 through 2035.

That’s how you turn $5.9 million into $29.8 million.

Bonilla’s representatives wanted the Mets to match the U.S. Prime Rate of interest at the time, which was 8.5 percent, but the sides settled on eight percent. Today’s Prime Rate is 3.25 percent.

“Bobby’s a very smart person, and he understands the value of income,” Dennis Gilbert, Bonilla’s former agent, told the Wall Street Journal in 2010.

Bonilla would be the 12th highest paid player on the Mets this season, making more than Jacob deGrom ($582,125) and Matt Harvey ($614,125) combined.

Entire article: http://www.nydailynews.com/sports/baseball/mets/payday-ex-met-bobby-bonilla-article-1.2277633

Also....The agreement called for deferred payments at an 8 percent annual interest rate. At the time, Mets ownership did not mind that interest rate because their investments with Bernie Madoff were returning comfortably more than that figure.

Entire article: http://espn.go.com/blog/new-york/mets/post/_/id/105897/its-bobby-bonillas-payday
Click to expand...


Bump for the greatest contract in pro sports history!!

 
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Hedge-fund billionaire Steve Cohen agrees to buy N.Y. Mets from Wilpon family

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Now it is up to the 29 other major league owners to decide whether Steve Cohen will be the next owner of the Mets.

Cohen and the Wilpons reached agreement on the sale of the team Monday, the Mets announced.

The deal is between $2.4 and $2.45 billion. The previous record for a North American sports team was the $2.275B that the Carolina Panthers were sold for to another hedge fund billionaire, David Tepper.
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The hedge fund billionaire is a polarizing figure and there is no guarantee that he will garner the necessary votes. His company paid $1.8 billion in fines for insider trading and is currently being sued for gender discrimination.

However, money often wins out. Cohen is worth roughly $14 billion and owners generally like when franchises sell at high prices because it impacts their valuations as well.

Entire article: https://www.marketwatch.com/story/h...-to-buy-ny-mets-from-wilpon-family-2020-09-14
 
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