Buyout Plan Increases Bonilla’s $5.9 Million to Almost $30 Million

As part of its buyout plan, the New York Mets deffered $5.9 million of former player Bobby Bonilla’s final season at an eight percent interest. The Mets will pay Bonilla $1.2 million a year for the next twenty-five years. At the end of the twenty-five years, the deffered $5.9 million will be close to $30 million.

Bonilla had a similar buyout with the Baltimore Orioles. The Orioles will pay Bonilla $500,000 a year until 2015 as a result of its buyout.

See Anthony Witrado, Mets Will Be Paying Bonilla For Next 25 Years,Sporting News, May 16, 2011.

Special thanks to David Luber (Attorney, Hollywood, FL) for bringing this article to my attention.