Happy Bobby Bonilla Day!

[Long John]

I'm curious as to what happens to all this deferred money if the player dies at some point. Don't get me wrong - I hope Bobby Bonilla lives a long, happy life - but the last payment occurs when he's 72. Do the Mets still have to pay his estate/heirs or are they off the hook?

Look. Good for Bobby, Bret, Bruce and the others for thinking about life beyond baseball. Football players could learn from this example, deferring guaranteed money into their retirement years.

FWIW, the Bruce Sutter contract is worse particularly from a replacement standpoint.

[revo]

I'm curious as to what happens to all this deferred money if the player dies at some point. Don't get me wrong - I hope Bobby Bonilla lives a long, happy life - but the last payment occurs when he's 72. Do the Mets still have to pay his estate/heirs or are they off the hook?

Look. Good for Bobby, Bret, Bruce and the others for thinking about life beyond baseball. Football players could learn from this example, deferring guaranteed money into their retirement years.

FWIW, the Bruce Sutter contract is worse particularly from a replacement standpoint.

In nearly all deferred comp cases, there's a death benefit for the employee's heirs as it's almost certainly set up through an annuity. Still, knowing the Mets, if they didn't do that, there's almost certainly a death benefit for any heirs. So don't worry, the only way they're getting off the hook is if Bonilla wants a lump sum buyout, which would defeat the entire purpose of this in the first place (another Mets thing to do).

[Don Quixote]

I'm curious as to what happens to all this deferred money if the player dies at some point. Don't get me wrong - I hope Bobby Bonilla lives a long, happy life - but the last payment occurs when he's 72. Do the Mets still have to pay his estate/heirs or are they off the hook?

Look. Good for Bobby, Bret, Bruce and the others for thinking about life beyond baseball. Football players could learn from this example, deferring guaranteed money into their retirement years.

FWIW, the Bruce Sutter contract is worse particularly from a replacement standpoint.

They have to pay him. The contract stands and is paid to his estate unless a specific beneficiary is named in the contract. It's a "term certain" deal vs. a lifetime annuity. His heirs presumably could negotiate a buyout, but given that the deal has an 8% interest rate, that would probably be a bad move.

Of course, there could be stipulations in the agreement that annuitized the contract. I hope we never have to find out, especially since I always liked him as a player, even after he left Pittsburgh.

[madducks]

I hope everyone had a happy "Bobby Bonilla Day." I know Bobby did.

[Bene Futuis]

Red Sox are still paying Manny Ramirez. Reds are still paying Ken Griffey, Jr.

[Bene Futuis]

The Mets could have made Bonilla go away for $6 million in 1999. Instead, they are paying him $29.8 million over 25 years (2011-2035). Only 15 more years to go.

This one is just so much better, though. Lol Mets.

[Sharky]

You must be a Yankees fan, bene . They are usually the guys who enjoy bringing this up. I’ll take the ribbing in exchange for a competitive ballclub.