And those numbers were in accusations made by Picard many of which were debunked and made up by him when he did his smear campaign in the press with his buddy from the Times…

Now we can call the Mets outfield the Killer B’s.

Except unlike the Houston Astros version, our Killer B’s won’t be killing the opposition, only the Mets’ future payroll flexibility.

LF Bay – ???
CF Beltran – 3.5 mil
RF Bonilla – 1.2 mil

Company contributes to your pension fund, you get a set payment from the fund and the rest can be used for other things, Other pensions, etc…etc…

In one of your examples:
“If they didn’t and used the deferment as a cheap loan”

This is kind of like what Enron did, instead of paying money into a pension fund they gave the fund shares of it’s own stock. Essentially a loan. When the company went under so did the pension.

The Mistake the Mets made was to put all the eggs in one Madoff basket. If they had put it into a REAL and more diversified investment company they wouldn’t have the issues they did and lose the fund entirely.

We are talking not very large amounts here and I’m not even sure if the accounts that these deferrals was in is considered a Wilpon account and has not already got back some of the money they lost when the victims got some clawback money.

but Me personally I would rather just pay my bills and be done with it…

Mets fans your first LIVE look at Zack Wheeler Saturday on SNY 12pm! Gary, Keith, Ron and KB

For the Bonilla and Saberhagen ones, if you take the deferred money and just drop it in one of the Madoff accounts. Based on the prospectus they would be making money every year. What was not smart was having the term so long, and also being dim enough to believe the consistent returns they were getting.

For Santana, it’s a great business move for both sides. Santana gets a longer termed contract with a small interest payout. For the Mets they make a lot of money by banking the money because they are getting more back from interest then what is paid out to Santana.

This is where the issue is. If the Mets banked the Santana money then it’s a great move. If they didn’t and used the deferment as a cheap loan, it just adds more liabilities to a portfolio of liabilities.

We don’t know how much interest is paid out on Wrights deferment yet. Bay is a different beast. We all just wanted him off the team and a 3 year deferment of those dollars is really no big deal, is it was extended longer then that will the others would be a bigger problem.

So, basically every year you can add 5-10 million to the payroll just for deferred payments. I guess if you defer something from all of the big contracts, it kind of evens out in the present. Defer 5 million from Wright, but pay 5 million to these other three guys and presently it’s the same payout.

I guess that’s the logic.

$5M deferred annually at 1.25% compound interest (payable June 30 seven years after season in which salary was earned), reducing present-day value of package to $123.1M