Make a Contribution to Remove NSFW Ads

HAPPY Bobby Bonilla Day!!!

darth frosty

darth frosty

Dark Lord of the Sith
BGOL Investor
It's time to celebrate baseball's best holiday: Bobby Bonilla Day
9b1956d0-c589-11e7-94fc-a3ed1c535218_MikeOzMug.png.cf.jpg

Mike Oz
Yahoo SportsJun 29, 2018, 7:11 PM

Open Mike - Why Bobby Bo is a real American hero

696fd9c417b043ef23d038d52e657d7f



Bobby Bonilla doesn’t get the credit he deserves. But I’m not talking about his baseball legacy or his stats. Bobby Bonilla doesn’t get enough props because every year, we don’t all look at July 1 as a holiday in his honor. We don’t see Bonilla for what he is — an American Hero.

This Saturday is the day Bonilla gets his annual payday from the New York Mets, who are still paying Bobby Bonilla $1,193,248.20 every year from a contract he was due almost 20 years ago.

You see, when the Mets wanted to get rid of Bonilla and his $5.9 million salary in 2000, his agent struck a deal that was a bit different: They didn’t have to pay him right away. Instead they could pay him $1.19 million for 25 years starting in 2011.

So now every July 1, Bobby Bo gets a nice paycheck worth over a mill. Must be nice! It’s the topic of my Open Mike video this week on Yahoo Sports — where I give Bobby Bonilla the credit he deserves. He’s not a punchline. He’s a hero!

We as Americans value capitalism over almost anything else — we love money. And that’s why Bobby Bo doesn’t get enough credit. July 1 should be a holiday across the game. The winners that day should get Million Dollar Belts. Players should wear dollar signs on their jerseys instead of numbers.

And it should all be in honor of Bobby Bonilla, American Hero.

:money::money::money:

 
Great day for him. This part is even wilder:

http://www.espn.com/blog/new-york/m...la-day-his-annual-1-19-million-payday-is-here

But that's not all.

Bonilla also has deferred money that is being paid by the Mets and the Baltimore Orioles, who took Bonilla for the final year and a half (1995 and 1996) of his first Mets contract, a five-year deal signed in December 1991 for $29 million.

The two teams split a $12.5 million payment which comes in 25 installments. That deal started in 2004, so Bonilla has received 14 payments worth a total of $7 million, and he will receive another $5.5 million through 2028.

So to recap, Bonilla has already received $15.3 million in deferred money. Over the next 18 years, he has another $27 million to go.

All this looks even better from his home in Sarasota, Florida, where there's no state income tax.
Click to expand...
 
The Plutonian said:
That’s baller
Click to expand...
sharkbait28 said:
Haha holy shit my man finessed this shit :clap:
Click to expand...

:cheers:

salute that man...

but you know the one that CONFUSES me till this day?

there was a family who somehow got a for perpetuity clause in a contract with the NBA because of the merger..

http://hangtime.blogs.nba.com/2014/...tuity-deal-with-former-owners-of-aba-spirits/

and got MILLIONS a year

but for SOME REASON recently they settled after decades of getting that money.
 
why don't think just give him the full money and be done with it. this makes no sense to keep doing this every year when they can just cut him a check for the full thing.
 
darth frosty said:
It's time to celebrate baseball's best holiday: Bobby Bonilla Day
9b1956d0-c589-11e7-94fc-a3ed1c535218_MikeOzMug.png.cf.jpg

Mike Oz
Yahoo SportsJun 29, 2018, 7:11 PM

Open Mike - Why Bobby Bo is a real American hero

696fd9c417b043ef23d038d52e657d7f



Bobby Bonilla doesn’t get the credit he deserves. But I’m not talking about his baseball legacy or his stats. Bobby Bonilla doesn’t get enough props because every year, we don’t all look at July 1 as a holiday in his honor. We don’t see Bonilla for what he is — an American Hero.

This Saturday is the day Bonilla gets his annual payday from the New York Mets, who are still paying Bobby Bonilla $1,193,248.20 every year from a contract he was due almost 20 years ago.

You see, when the Mets wanted to get rid of Bonilla and his $5.9 million salary in 2000, his agent struck a deal that was a bit different: They didn’t have to pay him right away. Instead they could pay him $1.19 million for 25 years starting in 2011.

So now every July 1, Bobby Bo gets a nice paycheck worth over a mill. Must be nice! It’s the topic of my Open Mike video this week on Yahoo Sports — where I give Bobby Bonilla the credit he deserves. He’s not a punchline. He’s a hero!

We as Americans value capitalism over almost anything else — we love money. And that’s why Bobby Bo doesn’t get enough credit. July 1 should be a holiday across the game. The winners that day should get Million Dollar Belts. Players should wear dollar signs on their jerseys instead of numbers.

And it should all be in honor of Bobby Bonilla, American Hero.

:money::money::money:

Click to expand...



631485174-e1531159283902.jpg
 
This retired baseball player’s contract is the perfect example of the power of compounding
By Stacy Rapacon
Published: July 16, 2018 8:05 a.m. ET

SHARE

Apply the savvy strategy to your own finances

MW-GM415_grow_B_20180712122026_ZH.jpg
Getty Images
Bobby Bonilla of the New York Mets in action during a game against the Los Angeles Dodgers in 1995.
Most of us focus on celebrating America’s birthday in July. But former baseball player Bobby Bonilla has his own day to enjoy. July 1 marked his annual payday, when the New York Mets sent him a $1.19 million check as part of a deal set up 18 years ago.

How’s that work?
In 2000, the Mets cut the once-promising Bonilla from the team after years of disappointment. Terminating his contract early, the ball club owed him $5.9 million for that season, even though he didn’t play a game. Bonilla and his agent, Dennis Gilbert, opted to hold off on collecting at that time, instead agreeing to spread the payments out over 24 years, starting in 2011, with an 8% annual interest rate.

To date, the 55-year-old has collected more than $9.5 million from this deal. And when all is said and done, the total payout will be $29.8 million.

Wait, seriously?
It may sound like mathematical magic, but Bonilla’s contract with the Mets is a brilliant example of the simple power of compounding—and conversely, from the Mets’ point of view, the drain of paying interest. (For those who need a refresher: Compounding is when the interest you earn on your money also earns interest and so on and so on.)

Why does this matter to me?
You may never get offered millions of dollars to leave your job—or a guaranteed return of 8% a year on anything—but you can still apply the savvy strategy to your own finances and enjoy a happy payday yourself.

Like Bonilla, you can defer pocketing your cash by saving and investing it now, giving it more time to grow. “When you are young, time is your best friend,” says Certified Financial Planner Vid Ponnapalli. “And the magic of compounding is your best resource.”


Plus, putting away money now helps you bank some flexibility for later. “The most compelling reason to start saving early is to give yourself more options down the road,” says Francis Financial’s Natalie Colley, noting that even if you stop investing for a while, the amount you’ve already accumulated can keep working for you and grow to a substantial amount. “Start saving early, build a little nest egg and let compounding take the wheel,” she says.

Take this example: If you start investing $100 a month at 25, assuming that 8% annual return, you’d have $18,500 after a decade. If you stopped at that point and let it ride, that could turn into more than $200,000 by 65—without investing another penny.
 
Hey Julian! said:
Yeah, I guess, but let's not prejudge a brotha until we got some evidence. We got enough of that shit from the outside.
Click to expand...
Looks like he married his high school sweetheart who's 'lite-skinned'


Hidden-ball ‘trick’ by Bonilla
By Ikimulisa Livingston

June 1, 2010 | 4:00am


Modal Trigger
millie_bonilla-300x300.jpg

THE $HIFT IS ON: Millie Bonilla (left) claims her ex, former Met Bobby Bonilla, is hiding his assets from her, and wants him to pay up after a divorce judge last year said he had to split his holdings with her after 23 years of marriage.NY Post: Don Halasy
He’s been out of baseball for almost 10 years, but ex-Met Bobby Bonilla is still getting Bronx cheers — this time from his ex-wife.

Madiglia “Millie” Bonilla says the former Flushing lightning rod for boos has been moving around his money and hiding his accounts and holdings from her, and she wants a judge to call him out on it.

“I’m very disappointed with how he’s handled the whole situation,” Millie told The Post. “It’s very unnecessary for him to do all this.”

Her hubby raked in more than $50 million during his playing career, but court records show the couple’s assets were only a fraction of that by the time they divorced last year — around $18 million. That included a $3 million apartment in Manhattan, a $2 million home in Connecticut and an $850,000 place in Florida. Bonilla now has his own $8 million home in Greenwich, Conn.

The Connecticut judge who presided over the divorce ordered Millie get all the marital properties, but must sell the Manhattan pad and give her ex 15 percent of the proceeds.

The judge also ordered Bobby Bonilla to split his holdings with her, and Millie is convinced he’s holding out. The former slugger claimed to have “only” $1.6 million in liquid assets when the divorce went through, and she says he’s been dodging numerous document demands. He’s even failed to turn over the symbolic $1 a month he’s supposed to be paying her for alimony.

The ex-wife has now hired renowned private eye Vito Colucci to locate the rest of Bobby’s assets.

“Where’s the rest of his money?” Millie asked. “There are all these financial documents he hasn’t been providing. There’s a lot of businesses I wasn’t even aware of.”

In court last week, Bonilla’s lawyer reportedly denied his client was hiding anything.

Reached at his Greenwich home, Bonilla, 47, said only, “Let’s just put it this way: It’s unfortunate and that’s all I have to say.”

The couple met at Herbert Lehman HS in The Bronx, and divorced last year after 23 years of marriage. The judge who handled the divorce found “the wife was more responsible for the breakdown of the marital relationship than the husband.”

Bobby claimed the mother of their two kids, ages 16 and 21, suffered from an unspecified mental illness, a charge Millie was upset he’d gone public with.

Both of their fortunes will turn around in July 2011. That’s when Bobby gets to start collecting on his deferred compensation from the Mets. When the Amazin’s cut him after the 1999 season, they struck an odd deal where if he gave up the $5.9 million salary he was due in 2000, they’d pay him $1.1 million a year between 2011 and 2035.

As part of the divorce judgment, Millie is entitled to 50 percent of that money.

Additional reporting by Dan Mangan
 
I believe the Washington Nationals tried something similar with Bryce Harper, but I believe they were still short versus what the Phillies paid him.

I know this isn’t the right thread, but I can’t believe we had to let Harper walk. The damn Orioles and Peter Angelos fucked the DC area something bad. It was a shrewd business move, but how in the hell did MLB let him do that. They let Peter Angelos buy up all the tv rights for the Washington, DC region into Virginia and more. So when DC finally got a baseball team back they weren’t able to create a tv station for the Nats (which potentially could be millions) because Angelos owned the rights.

A deal was struck for the Nats which created the tv station MASN. The Orioles own the station and the Nats get a percentage which is paid out by the Orioles. However, Peter Angelos was not fulfilling the contract and withheld monies. So basically, the Nats couldn’t afford Harper and so we had to let him go. Fuck the Orioles! My apologies for ranting off subject in this thread. Carry-on.
 

Make a Contribution to Remove NSFW Ads
You must log in or register to reply here.

Similar threads

geechiedan
Bobby Bonilla - The single best contract ever in sports!
Replies
6
Views
188
SmoothD
SmoothD
MASTERBAKER
Knicks superstar Jalen Brunson has own official NYC sandwich: Here’s where you can try the ‘buzzer beater’ named for him
Replies
0
Views
47
MASTERBAKER
MASTERBAKER
MASTERBAKER
Inside the family feud tearing apart the Kennedys — as RFK Jr.’s siblings endorse Biden over their brother
Replies
3
Views
133
KunningLinguist
KunningLinguist
MASTERBAKER
Hero MTA bus driver reunites with girl he saved -- and gifts her a goldfish
Replies
0
Views
73
MASTERBAKER
MASTERBAKER
playahaitian
Politics & Hollywood: How Sly Stallone and Gloria Gaynor explain Trump and his presidency
Replies
9
Views
208
playahaitian
playahaitian
Back
Top