Bobby Bonilla’s Retirement Plan Is Better Than Yours

Now don’t you go taking that title as me insulting your retirement plan because I’m not. I’m sure your retirement plan is solid. It’s just not as solid as former MLB player, Bobby Bonilla. And trust me, it hasn’t nothing to do with how financially savvy Bobby Bonilla is and everything to do with how the New York Mets, namely former general manager, Steve Phillips, are totally not financially savvy.

So just how solid is this retirement plan that Bonilla somehow swindled the Mets into paying? Well in one year from now, Bobby Bonilla will be back on the Mets’ payroll and he will stay there for the next 25 years.

Oh, I don’t think that last part has sunk in so let me retype that.

He’ll be on the Mets’ payroll for the next 25 YEARS!

SAN JUAN, P.R.—One year from today, the Mets will add to their payroll a 47-year-old, past-his-prime power hitter who has a reputation as a malcontent—a player who has been retired from professional baseball for nine years and won’t play another game again.

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. Those are the terms the Mets agreed to Jan. 3, 2000, when they bought out the final year of Mr. Bonilla’s contract.

“That beautiful thing,” he said here Monday.

This unusual arrangement between him and the Mets, though, is characteristic of his time with the team—4½ years marked by controversy and unmet expectations. By the time Mr. Bonilla departed, the Mets were so eager to be rid of him that they agreed to defer payment—with interest—of the $5.9 million they owed him in the final year of his contract.

D@#n, Bobby. Let ya boy hold something.

P.S., How Steve Phillips is still employed in any capacity is beyond me.

There’s No Accounting for This (WSJ)

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  1. Anonymous says:

    maybe philips is mayan or something? o_0

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