From the WSJ:
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.
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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.
My favorite part about that story isn't mentioned in the article. The Mets were ECSTATIC when he agreed to this deal. They were actively bragging about it, because they only had to pay him 8% on the annuity, and they insisted that they would take the money they saved and earn 15%. Not that they hoped they would earn 15%, but that it was practically guaranteed that they would earn 15%. Why were they so sure? Well, because they were investing their money with a known financial genius who had time and time again been showing 15% returns. That genius?
ReplyDeleteBernie Madoff.
And no, I'm not making that up.
That's an awesome backstory. You know what is even better, however? The name "Bobby Bonilla."
ReplyDeleteHow is it possible that these jokers still own the team?
ReplyDelete