Bobby Bonilla got paid today

BillBanneker

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After his subpar 1999 season, the Mets released Bonilla, but still owed him $5.9 million. Bonilla and his agent offered the Mets a deal: Bonilla would defer payment for a decade, and the Mets would pay him an annual paycheck of $1.19 million starting in 2011 and ending in 2035, adding up to a total payout of $29.8 million. Mets owner Fred Wilpon accepted the deal mostly because he was heavily invested with Ponzi scheme operator Bernie Madoff, and the 10 percent returns he thought he was getting on his investments with Madoff outweighed the 8 percent interest the Mets would be paying on Bonilla's initial $5.9 million.

Yo:kobehaha: the mets were on some :thinkaboutitbreh: type shyt
 

...o3

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...last year when a similar thread was about dude still getting paid, i had just hit my 1k post mark.
:blessed::blessed::blessed:
 

concise

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Can we get info on this
Spirits of St. Louis - Wikipedia





In the summer of 1976, with the ABA at the point of financial collapse after 9 years, the six surviving franchises (the Virginia Squires went bankrupt immediately after the final season) began negotiating a merger with the NBA. But the senior circuit decided to accept only four teams from the rival league: the Nets (the last ABA champion), Denver Nuggets, Indiana Pacers and San Antonio Spurs.

The NBA placated John Y. Brown, owner of the Kentucky Colonels, by giving him a $3.3 million settlement in exchange for shutting his team down. (Brown later used much of that money to buy the Buffalo Braves of the NBA.) But the owners of the Spirits, the brothers Ozzie and Dan Silna, struck a prescient deal to acquire future television money from the teams that joined the NBA, a 1/7 share from each franchise (or nearly 2% of the entire NBA's TV money), in perpetuity. With network TV deals becoming more and more lucrative, the deal has made the Silnas wealthy, earning them $186 million as of 2008, according to the Cleveland Plain Dealer, and $255 million as of 2012 according to The New York Times.[1] (The NBA nearly succeeded in buying out the Silnas in 1982 by offering $5 million over eight years, but negotiations stalled when the siblings demanded $8 million over five.) :mjlol: On June 27, 2007, it was extended for another 8 years, ensuring another $100 million+ windfall for the Silnas. In 2014, the Silnas reached agreement with the NBA to greatly reduce the perpetual payments and take a lump sum of $500 million.[2] In the last few years before the lump sum agreement, the Silnas were receiving $14.57 million a year, despite being owners of a team that hadn't played one minute of basketball in more than 35 years.[3] The Silnas will, however, still be receiving a now much smaller portion of the television revenue through a new partnership with the former ABA teams the Nets, Nuggets, Pacers and Spurs.[4]
 

SteelCitySoldier

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Spirits of St. Louis - Wikipedia





In the summer of 1976, with the ABA at the point of financial collapse after 9 years, the six surviving franchises (the Virginia Squires went bankrupt immediately after the final season) began negotiating a merger with the NBA. But the senior circuit decided to accept only four teams from the rival league: the Nets (the last ABA champion), Denver Nuggets, Indiana Pacers and San Antonio Spurs.

The NBA placated John Y. Brown, owner of the Kentucky Colonels, by giving him a $3.3 million settlement in exchange for shutting his team down. (Brown later used much of that money to buy the Buffalo Braves of the NBA.) But the owners of the Spirits, the brothers Ozzie and Dan Silna, struck a prescient deal to acquire future television money from the teams that joined the NBA, a 1/7 share from each franchise (or nearly 2% of the entire NBA's TV money), in perpetuity. With network TV deals becoming more and more lucrative, the deal has made the Silnas wealthy, earning them $186 million as of 2008, according to the Cleveland Plain Dealer, and $255 million as of 2012 according to The New York Times.[1] (The NBA nearly succeeded in buying out the Silnas in 1982 by offering $5 million over eight years, but negotiations stalled when the siblings demanded $8 million over five.) :mjlol: On June 27, 2007, it was extended for another 8 years, ensuring another $100 million+ windfall for the Silnas. In 2014, the Silnas reached agreement with the NBA to greatly reduce the perpetual payments and take a lump sum of $500 million.[2] In the last few years before the lump sum agreement, the Silnas were receiving $14.57 million a year, despite being owners of a team that hadn't played one minute of basketball in more than 35 years.[3] The Silnas will, however, still be receiving a now much smaller portion of the television revenue through a new partnership with the former ABA teams the Nets, Nuggets, Pacers and Spurs.[4]


I read that shyt before you posted it and was :russ: these muthafukas got over and that settlement still hasn't been agreed upon in courts yet:mjlol:
 

beenz

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Spirits of St. Louis - Wikipedia





In the summer of 1976, with the ABA at the point of financial collapse after 9 years, the six surviving franchises (the Virginia Squires went bankrupt immediately after the final season) began negotiating a merger with the NBA. But the senior circuit decided to accept only four teams from the rival league: the Nets (the last ABA champion), Denver Nuggets, Indiana Pacers and San Antonio Spurs.

The NBA placated John Y. Brown, owner of the Kentucky Colonels, by giving him a $3.3 million settlement in exchange for shutting his team down. (Brown later used much of that money to buy the Buffalo Braves of the NBA.) But the owners of the Spirits, the brothers Ozzie and Dan Silna, struck a prescient deal to acquire future television money from the teams that joined the NBA, a 1/7 share from each franchise (or nearly 2% of the entire NBA's TV money), in perpetuity. With network TV deals becoming more and more lucrative, the deal has made the Silnas wealthy, earning them $186 million as of 2008, according to the Cleveland Plain Dealer, and $255 million as of 2012 according to The New York Times.[1] (The NBA nearly succeeded in buying out the Silnas in 1982 by offering $5 million over eight years, but negotiations stalled when the siblings demanded $8 million over five.) :mjlol: On June 27, 2007, it was extended for another 8 years, ensuring another $100 million+ windfall for the Silnas. In 2014, the Silnas reached agreement with the NBA to greatly reduce the perpetual payments and take a lump sum of $500 million.[2] In the last few years before the lump sum agreement, the Silnas were receiving $14.57 million a year, despite being owners of a team that hadn't played one minute of basketball in more than 35 years.[3] The Silnas will, however, still be receiving a now much smaller portion of the television revenue through a new partnership with the former ABA teams the Nets, Nuggets, Pacers and Spurs.[4]

this shyt is a modern day heist without any weapons involved :violent:
 

Trot LaRoc

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The real Lord Finesse :salute:

A couple other players like Bret Saberhagen have similar contracts but Bobby's is still king
 

MustafaSTL

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I call it the 2nd best contract ever.

the BEST deal in pro sports goes to the two brothers that own the spirts of st louis.
Sad thing (for me and fellow St. Louisans) is rumor has it that because of that deal, the NBA will never seriously consider moving a team to St. Louis or starting a franchise here while that deal is still going on.
 
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