What many consider one of worst deals in sports history

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A story reads: "Bobby Bonilla is 52 years old and hasn't played major league baseball since 2001. But the New York Mets will pay Bonilla $1.2 million today in the latest installment of what many consider one of the worst deals in sports history. Following the 1999 season, the Mets wanted to buy out the final year of Bonilla's contract. But instead of paying him the $5.9 million he was owed, the two sides agreed to a deferred compensation deal with the Mets paying Bonilla 25 annual payments of $1.2 million starting on July 1, 2011." All told, the Mets will have to pay Bonilla close to $30 million, which is about five times what he would have been paid when they bought out his contract. Do you agree that this is a bad deal for the Mets? Explain why or why not.

Reference no: EM131135884

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