July 1st…Bobby Bonilla Day

mr merlin

mr merlin

EOG Master
The guy or perhaps his agent was a genius considering most athletes blow their money on foolish investments like restaurants.
 
C

Chi_Archie

EOG Veteran
When Bruce Sutter signed with the Braves before the 1985 season, he agreed to a deal for six years and $9.1 million. Each year, his Braves “salary” of $750,000 was just an interest payment on the money, roughly 8 percent interest, which means he still got paid in 1989 and 1990 despite being retired. Then for 30 years, the Braves have been on the hook for $1.12 million every year, and in 2022, when Sutter is 69 years old, they owe him a balloon payment of that $9.1 million. All in all, it’s over $47 million for a pitcher who delivered just 40 saves for a team that averaged 96 losses per season.
 
John Kelly

John Kelly

Born Gambler
Staff member
And a lot of smart MLB teams keep their retired stars in the fold, acting as ambassadors for fans and sponsors alike.

Are there teams that do it better than either the Cardinals or the Yankees?
 
John Kelly

John Kelly

Born Gambler
Staff member
John Kelly said:
Like Bruce Sutter, RAILBIRD had a nasty splitter in his teen years.

How do I know?

I saw the scrapbook.
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A question for EOG's resident quick-wit HEIM:

I struggled with the punchline here.

The set-up line is "How do I know?"

Should the punchline be:

a) He told me so.

b) I saw the scrapbook.

Or c) Other
 
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Heim

Heim

EOG Master
Knowing Railbird's propensity to stretch the truth and flat out fib, it was
probably a spitter not a splitter.
 
R

Rockfish

EOG Veteran
Chi_Archie said:
When Bruce Sutter signed with the Braves before the 1985 season, he agreed to a deal for six years and $9.1 million. Each year, his Braves “salary” of $750,000 was just an interest payment on the money, roughly 8 percent interest, which means he still got paid in 1989 and 1990 despite being retired. Then for 30 years, the Braves have been on the hook for $1.12 million every year, and in 2022, when Sutter is 69 years old, they owe him a balloon payment of that $9.1 million. All in all, it’s over $47 million for a pitcher who delivered just 40 saves for a team that averaged 96 losses per season.
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Sutter timed it perfectly. he died at the age of 69.
 
mr merlin

mr merlin

EOG Master
winkyduck said:
I know Max Scherzer gets deferred money but I believe his is interest free and he is just paid what he is owed.
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that's not the way it 's supposed to work, interest based on the time value of deferred money is not a bonus, getting millions more in 15-20 years than you defer now is not extra, it's what you have coming, it's simple actuarial math.
 
Sportsrmylife

Sportsrmylife

EOG Master
if I was a pro athlete why wouldn't you put a portion of your salary into this type of payout. Live off your current money with the idea that after you leave the game you have this "annunity" waiting for you.
 
mr merlin

mr merlin

EOG Master
Sportsrmylife said:
if I was a pro athlete why wouldn't you put a portion of your salary into this type of payout. Live off your current money with the idea that after you leave the game you have this "annunity" waiting for you.
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Most big stars get huge signing bonus's now, any player could take some of that bonus and go purchase from an insurance co a policy similar to bonillas if they wanted. the fee's involved would be pretty small.

When people win the lottery and choose the long term payment plan instead of the cash option that's exactly what the lottery does - they pay the lump sum to a ins co and they guarantee the payments.
 
Sportsrmylife

Sportsrmylife

EOG Master
I have a question.
If athletes are going broke so often why isn't something like this added to every players contract?
Even if it was 250k or 500k a year down the road.

Maybe there is something legally that wouldn't work.

The ohtani deal if done in basketball could get some super teams that actually win.

Sorry 76er fans
Too soon
 
mr merlin

mr merlin

EOG Master
Sportsrmylife said:
I have a question.
If athletes are going broke so often why isn't something like this added to every players contract?
Even if it was 250k or 500k a year down the road.

Maybe there is something legally that wouldn't work.

The ohtani deal if done in basketball could get some super teams that actually win.

Sorry 76er fans
Too soon
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Because they have the right to negotiate what they want, some want it now, I assume ohtani didn't do it because he's smart or planning for the future, he did it for tax purposes and because he makes plenty through endorsements.
 
Sportsrmylife

Sportsrmylife

EOG Master
I can see but if a sports agency uses this tactic to protect players from going broke it might become the norm.

Seems like a good way to protect athletes from themselves
 
C

Chi_Archie

EOG Veteran
sounds very big brother-ish

for every loser that blows his entire career earnings you have 50 or 100 that make exceptional choices and investments. the other 90% do okay.

you don't take away freedom to allow a smart man to make ALL his money "work" for him at an early age, that would be criminal
 
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