When does $5.9 million in 2000 equal $29.8 million in 2011?
Are you freakin’ kidding me?
The Mets were supposed to pay Bobby Bonilla $5.9 million back in 2000.
However, since the Mets were owned by some great final geniuses, they decided to re-work his contract, to a new one where the $5.9 million would be deferred with interest into 25 yearly payments starting in 2011.
Sounds reasonable, right?
It does, until you read that the deferments would pay Bobby the amount of $1,193,248.20 per year for the next 25 years for a total of almost $30 million US dollars!
Are you kidding me?
Think about this for a second: these Mensas turned Bobby Bo’s $5.9 mil into a 5x annuity!
Genius. Well, if you are Bobby Bonilla!
What these clowns were expecting was that they’d do a game of musical chairs, whereby the latest owners would be holding the bag.
Or, that they would continue to get all those undeserved riches from their good pal, and recently-jailed benefactor, Bernie “The Ponz” Madoff.
Full story here
