Islanders buy out DiPietro

[OpIv37]

They have to give him $1.5m a year for the next 16 years.

And so ends the worst contract in pro sports history. Or it will end, in 2029.

http://www.newsday.com/sports/hockey/islanders/islanders-will-buy-out-rick-dipietro-1.5607340

[coastal]

Re: Islanders buy out DiPietro

That's just crazy...

[Downinfloflo]

Re: Islanders buy out DiPietro

I wanna be bought out...

[DraftBoy]

Re: Islanders buy out DiPietro

They have to give him $1.5m a year for the next 16 years.

And so ends the worst contract in pro sports history. Or it will end, in 2029.
http://www.newsday.com/sports/hockey...etro-1.5607340

Nope...Bobby Bonilla gets 1.3 Million from the Mets on every 7/1 and will until 2035. That is the worst contract in the history of sports.

[gebobs]

Re: Islanders buy out DiPietro

Nope...Bobby Bonilla gets 1.3 Million from the Mets on every 7/1 and will until 2035. That is the worst contract in the history of sports.

Whoa...that's wild. They could have paid him a lump sum of $6M in '99 but instead deferred it.

Speaking of DiPietro though, remember that brief time lo these many years ago when he was on top of the game. I think it lasted for like 15 games. LOL

[OpIv37]

Re: Islanders buy out DiPietro

Whoa...that's wild. They could have paid him a lump sum of $6M in '99 but instead deferred it.

Speaking of DiPietro though, remember that brief time lo these many years ago when he was on top of the game. I think it lasted for like 15 games. LOL

The article said he's played 50 games in the last 5 seasons. Not 50 a season- 50 total.

[SabreEleven]

Re: Islanders buy out DiPietro

They have to give him $1.5m a year for the next 16 years.

And so ends the worst contract in pro sports history. Or it will end, in 2029.
http://www.newsday.com/sports/hockey...etro-1.5607340

That's good work if you can get it.

[rbochan]

Re: Islanders buy out DiPietro

That's still cheaper than Yashin's turtlenecks.

[Downinfloflo]

Re: Islanders buy out DiPietro

Nope...Bobby Bonilla gets 1.3 Million from the Mets on every 7/1 and will until 2035. That is the worst contract in the history of sports.

That's the way Bobby wanted that contract to be.

I guess so he don't just blow threw his money.

Pretty smart move if you ask me.

[DraftBoy]

Re: Islanders buy out DiPietro

That's the way Bobby wanted that contract to be.

I guess so he don't just blow threw his money.

Pretty smart move if you ask me.

No its wasn't the Mets decided to make 25 deferred payments equaling over 29 million in 2011 as opposed to paying him 5.9 Million in 2000. If you're Bonilla you have to love the contract.

[Downinfloflo]

Re: Islanders buy out DiPietro

In 1992, he was signed as a free agent by the New York Mets to a (then) very lucrative 5 year, $29 million contract.Finally, in 1995, Bonilla was traded by the Mets.

After a subpar season in 1999, the Mets released Bonilla, but still owed him $5.9 million. The team had to get him off their book in order to sign another player, so they worked out a deal: If Bonilla would defer payment for a decade, they would pay him an annuity worth far more than the $5.9 million. Bonilla accepted the offer, resulting in an annual paycheck of $1.19 million starting in 2011 and ending in 2035.

The New York Mets placed Bonilla on unconditional waivers in 2000. He spent the 2000 season playing for the Atlanta Braves. The Mets agreed to pay out the remainder of Bonilla's contract by deferring the $5.9 million that he was due. The Mets will pay him 25 equal payments of $1,193,248.20 every July 1 from 2011 until 2035, assuming an annual interest rate of 8% during the period 2001–2035.^[6]




Like I said that's the way Bobby wanted it.

http://en.wikipedia.org/wiki/Bobby_Bonilla

[DraftBoy]

Re: Islanders buy out DiPietro

In 1992, he was signed as a free agent by the New York Mets to a (then) very lucrative 5 year, $29 million contract.Finally, in 1995, Bonilla was traded by the Mets.

After a subpar season in 1999, the Mets released Bonilla, but still owed him $5.9 million. The team had to get him off their book in order to sign another player, so they worked out a deal: If Bonilla would defer payment for a decade, they would pay him an annuity worth far more than the $5.9 million. Bonilla accepted the offer, resulting in an annual paycheck of $1.19 million starting in 2011 and ending in 2035.

The New York Mets placed Bonilla on unconditional waivers in 2000. He spent the 2000 season playing for the Atlanta Braves. The Mets agreed to pay out the remainder of Bonilla's contract by deferring the $5.9 million that he was due. The Mets will pay him 25 equal payments of $1,193,248.20 every July 1 from 2011 until 2035, assuming an annual interest rate of 8% during the period 2001–2035.^[6]




Like I said that's the way Bobby wanted it.

http://en.wikipedia.org/wiki/Bobby_Bonilla

And again as your link states the Mets were the ones who decided to defer Bonilla's payments not Bobby. He technically had zero say in the matter. This is a dumb discussion to even had, either way its worse than DiPierto's deal. Though we'd all take either or.

[Downinfloflo]

Re: Islanders buy out DiPietro

No the link does not state that....LOL

The team had to get him off their book in order to sign another player, so they worked out a deal: If Bonilla would defer payment for a decade, they would pay him an annuity worth far more than the $5.9 million. Bonilla accepted the offer

Bonilla could have said no..What happened was they re worked the current contract.

[IlluminatusUIUC]

Re: Islanders buy out DiPietro

You guys are all wrong. The worst contract in sports history is the one that gives a defunct ABA team a cut of the NBA television profits forever.

http://articles.latimes.com/2006/jul/31/sports/sp-aba31

They've made $168 million since 1976 for doing absolutely nothing, and will continue to as long as the NBA exists.