Post by Carl LaFong on Jul 1, 2021 13:47:41 GMT
www.foxbusiness.com/sports/bobby-bonilla-day-contract-mets
New York Mets and baseball fans in general painstakingly honor July 1 of each year as "Bobby Bonilla Day" thanks to the old regime’s decision on the retired outfielder’s contract in 2000.
Bonilla was a six-time All-Star and won a World Series with the Florida Marlins in 1997. He joined the Mets for his first stint in 1991 and was later traded in July 1995 to the Baltimore Orioles. The Marlins would sign Bonilla in 1996 and then later traded him to the Los Angeles Dodgers in May 1998 and then was traded back to the Mets six months later.
Toward the end of his final stint with the Mets, the two parties agreed on a contract buyout in 2000. New York still owed the slugger $5.9 million and agreed to pay him $1.1 million in annual installments starting from 2011 and ending in 2025.*
When factoring in a pre-negotiated 8% interest rate, the Mets owe Bonilla about $1.19 million every year on July 1. Bonilla, who hasn’t played in the major leagues since the 2001 season, will keep earning money from the Mets until he’s 72 years old.
* That's a misprint. It should be 2035!
New York Mets and baseball fans in general painstakingly honor July 1 of each year as "Bobby Bonilla Day" thanks to the old regime’s decision on the retired outfielder’s contract in 2000.
Bonilla was a six-time All-Star and won a World Series with the Florida Marlins in 1997. He joined the Mets for his first stint in 1991 and was later traded in July 1995 to the Baltimore Orioles. The Marlins would sign Bonilla in 1996 and then later traded him to the Los Angeles Dodgers in May 1998 and then was traded back to the Mets six months later.
Toward the end of his final stint with the Mets, the two parties agreed on a contract buyout in 2000. New York still owed the slugger $5.9 million and agreed to pay him $1.1 million in annual installments starting from 2011 and ending in 2025.*
When factoring in a pre-negotiated 8% interest rate, the Mets owe Bonilla about $1.19 million every year on July 1. Bonilla, who hasn’t played in the major leagues since the 2001 season, will keep earning money from the Mets until he’s 72 years old.
* That's a misprint. It should be 2035!