Happy Bobby Bonilla Day. The Mets just sent their annual check — $1,193,248.20 — to a player who last suited up for them in 1999. The internet celebrates. Everyone asks if Bonilla belongs in my Business of Sports Hall of Fame.
Here's my counterintuitive take: I'm not sure this deal is as good for Bonilla as everyone thinks.
I spent 30 years negotiating contracts on both the player side and the team side. And I can tell you this: deferrals are always the team's idea. Always. Teams love them because money is worth more now than later. Players should want the opposite. The 8% interest rate makes this deal more palatable — but the Mets still turned a $5.9 million obligation into a 25-year payment plan. And we all know why they wanted to defer: Bernie Madoff.
Today I'm breaking down what Bobby Bonilla Day actually tells you about how teams think — and what every player and agent should understand about deferred money.
Want the rest? Go All-Access.
You're reading a members-only piece. All-Access unlocks the full Sunday Seven, every Daily Dose video, and the complete archive — everything Andrew publishes, in one place.
Get All-AccessAll-Access gets you::
- Every Sunday Seven — the weekly long read
- The Daily Dose — 2–3 video takes a week
- Full archive access
- Reader Q&A in the newsletter