WHO IS THE WORLD’S SMARTEST PERSON?

WHO IS THE WORLD’S SMARTEST PERSON?

If you were asked to select the “Smartest Person Alive” the names of Gates and Buffet and Bezos might be near the top of the list for many people. I would like to nominate former Major League baseball player Bobby Bonilla who played from 1986 to 2001. So why is Bonilla my nominee for the “Smartest Person Alive” award? Let me explain.

In 2000, the New York Mets agreed to buy out the remaining $5.9 million on Bonilla's contract. However, instead of paying Bonilla the $5.9 million at the time, the Mets agreed to make annual payments of nearly $1.2 million for 25 years starting July 1, 2011, including a negotiated 8% interest, until July 1, 2036. Of course the next question is why would they agree to pay more than 25 million dollars over time, instead of $5.9 million up front?

While Bonilla might be nominated as the smartest person, the management of the New York Mets baseball team has to assume the dumbest (or perhaps greediest) collection of business minds in baseball. Mets ownership was involved with a Bernie Madoff account that promised double-digit returns over the course of the deal, and the Mets were poised to make a significant profit -- if the Madoff account delivered. It did not. Consequently, Bobby will be cashing in until he is 72 years old in 2036!

On July 1, 2019 Bonilla collected a check for $1,193,248.20 from the New York Mets, just as he has since 2011 and will again every Canada Day until 2036. But that is not the end of the story. Bonilla negotiated a second deferred-contract plan with the Mets and Orioles that pays him an additional $500,000 a year for 25 years until 2039!  That will add another 12.5 million dollars to Bobby’s petty cash drawer. He not only hit the jackpot once, he hit it twice! Now that is what I call really smart!

Bonilla is not the only baseball player to outsmart management over the years. Pitcher Bret Saberhagen, who most people don’t remember, is being paid $250,000 a year again from the Mets for 25 years until 2039. Manny Ramirez, who has not played for Boston since 2008, will continue to collect $24.2 million total from the Red Sox through 2026. Anyone who can negotiate to collect millions of dollars for decades without doing anything whatsoever to earn it, has to be considered not only smart, but it probably elevates them to genius status!

Come to think of it, I have been paid thousands a year for 22 years to stay at home and not go to work. Although my money is called a pension, it is kind of Bonilla-esque! Perhaps someone might like to nominate me!