The owner of the Mets had a whole lot of money with a guy named Bernie Madoff, and Bernie wasn’t returning like he should, you know, money wise, and so the Mets were getting into a little financial trouble. So they owed Bobby Bonilla $5.9 million in the year 2000 and they said Bobby, we’d love to pay you this $5.9 million. Instead, what if we gave you a check for $1.19 million starting in year 2011 to give you that same check every yea, to year 2035. So, you’re looking at 24 years of checks at 1.19 million or a one-time check for $5 million.
COACH PETE
I think I know which one I would have picked. Bobby was smart. He said, “Yes, give me the checks!”
ATLANTA – On this sizzling episode of Financial Safari, Coach Pete and Chuck Kaiton break down one of the greatest financial power plays in sports history—Bobby Bonilla’s legendary paycheck deal with the Mets—and reveal how it mirrors smart retirement planning. From financial “fill-up” strategies to real-life estate planning blunders (yes, even celebs mess it up), the team dishes out hard truths, big laughs, and tips you’ll actually use. Don’t miss this wild ride through sports, money, and how not to fail your golden years—because retirement is no game, but winning at it? Totally possible.
