[dmix]

So it started compounding in 2011 + the next 25yrs? Not when he signed the contract? Which means he’d need to not touch the money to get the full $29M amount

8% over 25yrs is a crazy good deal for anyone, not to mention on top of millions.

[the_watcher]

Spotrac has the details of the payments: https://www.spotrac.com/mlb/new-york-mets/bobby-bonilla-1188...

[dmix]

That doesn’t show the interest rates. But based on that it also looks like he got 5x yrs of $500k from the Orioles also starting in 2011. I’m guessing he signed a similar deal with them since he stopped playing in 2000…

This man makes smart financial decisions.

[astura]

The key to making smart financial decisions for MLB players is having an excellent agent.

Bonilla's agent was Dennis Gilbert, who was previously involved in the life insurance industry.

[the_watcher]

Part of a subsequent deal (or related deal, don't remember the details) involved trading him to the Orioles, who became responsible for a portion of his salary, which they then deferred. It's part of the same original contract though, IIRC.

And I know it doesn't show the interest rates, but it does show that the payments he will receive from the Mets total roughly $30M, which is what the article reported.