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7 minutes ago, varjet said:

Trumaine Johnson’s contract was terrible, but you can see what they were trying to do.  Trumaine completely stiffed the Jets.  If he played like 2018, we would be grumbling, but he would likely have a job.

The Enunwa contract was the absolute worst.  It may not have been as much in dollars as Trumaine’s, but we guaranteed an enormous amount, over three seasons, to a player who had already broken his neck.  How dumb was that?

Mike Maccagnan.

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8 hours ago, Lith said:

As of tomorrow, we should be at about $25MM in cap space per Jason at OTC.  Will be intersting to see how/if we use it.

https://overthecap.com/teams-set-to-pick-up-cap-space-on-june-2/

The Jets will pick up $11 million in cap room with the release of Trumaine Johnson becoming official. Johnson had counted at $15 million on the Jets cap and will now count for $4 million this season and $8 million next year. The move should bump the Jets to around $25 million in cap room for 2020 which certainly gives them the space for an extension for Jamal Adams or to sign a player like Jadeveon Clowney. It would also give them the flexibility to take on an in-season trade if the season goes well from the start. Johnson is still a free agent.

I don’t expect any significant signings as the salary cap will be going down significantly next year due to the decreased revenues from COVID. I’m hearing it will decrease by $30 million for 2021.  Teams will be counting pennies these next few months

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6 hours ago, T0mShane said:

Jamal watching all that sweet, sweet Trumaine money go to Logan Ryan this week: 

window licking GIF

Jamal to The Johnson’s:  I didn’t mean it. We don’t need more dawgs. Pay me my money. 

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9 hours ago, Thai Jet said:

Huh ? Lost me here my friend. They owed Bonilla $5.9 mil. for the 2000 season when he was released. By deferring the payments ( they owe him $1.19 mil per year THRU 2035!) they will have paid Bonilla $29.8 mil total. How's Bonilla the idiot ?

 

Because the value of cash every year goes down.  Think about it, what was a million dollars worth all those years ago?  Bonilla signed the biggest deal and he was making under $6 mil.  Today that would have been 30, tells you all you need to know right there how much more that money was worth back then.  You would rather get a million in 2000 than 2020

Plus theres the extra bonus of gaining the benefit of taking that $30 mil and investing it.  Even at a moronic 8% return that's lost mils

And for even more bonus points the Coupons didnt have to pay out $30 mil all at once, was a slow payment plan that wasn't even felt in their pockets as opposed to $30 mil payment.  And even better for them they are paying out the mil this year that's not worth as much as it was in 2000, feel it less than back in 2000,  they also would have invested that 30 mil and used the returns to offset some of the owed moneys  

It sounds odd, but when you really think about it, it was a smart move by the Coupons

Again, money today is worth more than money tomorrow.  

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12 hours ago, Thai Jet said:

Huh ? Lost me here my friend. They owed Bonilla $5.9 mil. for the 2000 season when he was released. By deferring the payments ( they owe him $1.19 mil per year THRU 2035!) they will have paid Bonilla $29.8 mil total. How's Bonilla the idiot ?

The argument is that if Bonilla took that $5.9M when he did and invested it at 8 % interest, he'd have ended up with more money than the $29.8M he'll end up with in 2035.

But in the real world, you can't always assume 8 % growth.

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54 minutes ago, Jetsfan80 said:

The argument is that if Bonilla took that $5.9M when he did and invested it at 8 % interest, he'd have ended up with more money than the $29.8M he'll end up with in 2035.

But in the real world, you can't always assume 8 % growth.

During that period of low inflation you wouldn't have come close to an 8% yield. That's insane. Bonilla's "deal" is often referred to as " One of The Greatest Retirement Plans in History" Look it up. Plus Bonilla will get the payout for another 15 years.

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30 minutes ago, Thai Jet said:

 

During that period of low inflation you wouldn't have come close to an 8% yield. That's insane. Bonilla's "deal" is often referred to as " One of The Greatest Retirement Plans in History" Look it up. Plus Bonilla will get the payout for another 15 years.

You dont have the money, you leave it with the Wilsons you have a 0% yield.

If youre the Wilpons you sure as shlt get an 8% yield.  I've been getting more than that from my financial planner.  

Read it:

https://www.businessinsider.com/chart-contract-new-york-mets-bobby-bonilla-2013-7

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Well, based on the contract length and the money per year, I don't think there's EVER been a bigger fleecing of a team? The Trumaine Johnson contract might very well be the worst FA ripoff in the history of the league?

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2 minutes ago, NYJ1 said:

Well, based on the contract length and the money per year, I don't think there's EVER been a bigger fleecing of a team? The Trumaine Johnson contract might very well be the worst FA ripoff in the history of the league?

the jet way

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Rich Cimini, ESPN Staff Writer

Jets get $11 million in cap relief; will they use it to sign Jadeveon Clowney?

Flush with salary-cap space now that most of Trumaine Johnson's onerous contract is off the 2020 books, the New York Jets have enough flexibility to make a serious run at free-agent pass-rusher Jadeveon Clowney.

Except that's not part of the plan.

While the Jets-Clowney speculation has lingered throughout the offseason, the truth is they have never had serious interest -- and their position hasn't changed even with $11 million in cap relief from Johnson.

The Jets have $25.2 million in cap room, which puts them fourth in the league, according to the NFLPA. Johnson was eating up $15 million, but his cap charge dropped Tuesday to $4 million, the benefit of his previous designation as a post-June 1 cut. The downside is the remaining portion of his unamortized signing bonus ($8 million) gets pushed into 2021, but that's a worry for another day.

Right now, the Jets have enough cap space to be aggressive in the next wave of free agency. So how will they spend the money?

No doubt, Clowney, the 2014 No. 1 overall pick, would excite the fan base, but his price tag, injury history and modest production last season as a pass-rusher have caused his market to plummet. There's also concern about his motor.

If you haven't noticed, Jets general manager Joe Douglas doesn't do big, splashy signings. While that philosophy in relation to Clowney hurts the team in the short term -- he would be one of their best players on defense -- it's the proper way to build a roster for the long haul.

Instead of Clowney, Douglas could focus on other areas. Such as:

Cornerback

Remember when Logan Ryan reportedly was on the verge of signing with the Jets? That seems so long ago; it also was premature.

Ryan remains a free agent because his asking price -- reportedly $10 million for one year -- is well above what the market is willing to pay. Consider some of the recent deals for veteran corners, all one-year deals: Prince Amukamara ($1.2 million), Johnathan Joseph ($2 million) and Daryl Worley ($3 million).

If Ryan is willing to drop his price, the Jets might re-engage in talks. The former Tennessee Titans and New England Patriots starter would become their most accomplished cornerback, but it wouldn't be a seamless fit. Ryan plays the slot, and the Jets committed $5 million to Brian Poole for that role. There's no such thing as having too many corners -- defensive coordinator Gregg Williams would be able to cook up creative ways to use Ryan -- but Douglas has set a price point in a buyer's market.

Wide receiver

Quarterback Sam Darnold needs a physical, possession receiver to pair with their new speedsters, Breshad Perriman and rookie Denzel Mims. They could use someone such as Quincy Enunwa, but he's done for the season with a neck injury. With no offseason practice time because of the coronavirus restrictions, the ideal fit is a player who already knows coach Adam Gase's system and could step in immediately. That, of course, limits the options.

Demaryius Thomas is a Gase favorite who filled the role last season with modest results (36 catches, 433 yards, one touchdown), but he's a 32-year-old free agent with balky knees.

Another name that surely will come up is Alshon Jeffery, who played under Gase with the 2015 Chicago Bears, but his situation is complicated because of his health and salary. Jeffery, 30, seemingly has no future with the Philadelphia Eagles, but he's a tough cut because his $9.9 million salary is guaranteed and his "dead" charge would be $15.4 million. The best escape would be an NBA-style salary dump, trading him and a draft pick to a team willing to pay a chunk of his salary. Thing is, there's also the matter of his surgically repaired foot, which might sideline him until Week 1.

Mark this down: Wide receiver will be Douglas' new "offensive line," meaning he will search for upgrades throughout the preseason as he did a year ago with the line.

An extension for Adams

With $25 million in cap room, the Jets can't say they don't have enough flexibility to re-up with their best player in safety Jamal Adams, who is demanding an extension. There are other issues in play, namely the team's reluctance to reward their 2017 first-round pick who has two years remaining on his rookie deal.

Douglas has said he is not opposed to extending a player with multiple years left on his contract, indicating at the end of the last season that such matters would be considered on a "case by case" basis. Right now, the sense is he prefers to wait until 2021 in Adams' case. That will be a tough sell to Adams, who sees all that cap room and wonders why he can't get a piece of it.

Save it for a rainy day

It's not a bad thought, considering the financial uncertainty facing the NFL. The 2021 cap could be affected if the league loses revenue because of the coronavirus pandemic, so it would be prudent to apply some of their cap surplus to next year. The average carryover into 2020 was $11.9 million per team, according to the NFLPA. The Jets, who will have more than $20 million in cap space even after signing their draft picks, could sock away plenty.

As of now, they're well-positioned with $156 million committed to the '21 cap, per Over the Cap, but the extra space would help with an Adams extension -- assuming he's still on the team.

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20 hours ago, Jetsfan80 said:

The argument is that if Bonilla took that $5.9M when he did and invested it at 8 % interest, he'd have ended up with more money than the $29.8M he'll end up with in 2035.

But in the real world, you can't always assume 8 % growth.

Even at 8% they only make out around 10% better.  Considering the volatility vs. the guaranteed return I don't see how it could be considered a bad deal for Bonilla.  Wasn't the story that the Wilpons did it to invest the money with Madoff and get his guaranteed 10-14%?  Guess it wasn't that "smart" of a deal for them in the long run.  

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On 6/1/2020 at 3:53 PM, Jet Nut said:

Everyone kills them for this deal but the Mets made out like bandits differing the payment over years.  

Bonilla was the idiot.

 

 

whatever happened to alan houston?  as i recall he signed a guaranteed contract and then promptly was injured and couldn't play.

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I think Bonilla made a smart, financially conservative choice.

Another factor to consider is that with his 1.2M per year you could live quite well on $300-400K  per and by investing the balance for growth he could easily have an 8 figure portfolio today PLUS the stability of a guaranteed annual income.

 

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1 hour ago, #27TheDominator said:

Even at 8% they only make out around 10% better.  Considering the volatility vs. the guaranteed return I don't see how it could be considered a bad deal for Bonilla.  Wasn't the story that the Wilpons did it to invest the money with Madoff and get his guaranteed 10-14%?  Guess it wasn't that "smart" of a deal for them in the long run.  

Yep.  The assumption that people will always be smart with their lump sum of cash is flawed, at best.  

But what do I know.  My sole investment vehicle is my 401(k).  My retirement money has entirely been in the hands of other people since I was 22.

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21 hours ago, Jet Nut said:

If youre the Wilpons you sure as shlt get an 8% yield.  I've been getting more than that from my financial planner.  

Read it:

https://www.businessinsider.com/chart-contract-new-york-mets-bobby-bonilla-2013-7

Huh?  The Wilpons didn't make a single wise investment from 1985 right up to when Madoff was arrested in 2008.  It was particularly bad starting in 2002, when Doubleday sold his remaining interests in the Mets to the Wilpons, at which time they brought Madoff even closer to the organization.

I see your article on Bonilla and raise you this article on the Wilpons' relationship with Madoff:

https://sportsarefromvenus.com/2019/09/19/the-history-of-bernie-madoffs-ties-to-the-new-york-mets/

 

Quote

“Picard demanded that the Wilpons return $300 million in “fictitious profits,” paid out to their family, their associates, and businesses by Mr. Madoff ’s firm over many years.” 

...........................

 Mr. Wilpon and Mr. Katz agreed that they were obligated to pay back $162 million in so-called fictitious profits they had reaped from the net winner accounts from 2002 to ’08.”

However, according to ESPN, “As part of the Wilpons’ settlement with the trustee, the sides stipulated that the Wilpons lost $178 million in certain Madoff funds, while making $162 million from other funds.” While the settlement implies that Wilpon overall had lost money with Madoff, that isn’t what Picard would say. 

 

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On 6/2/2020 at 12:45 PM, Jetsfan80 said:

The argument is that if Bonilla took that $5.9M when he did and invested it at 8 % interest, he'd have ended up with more money than the $29.8M he'll end up with in 2035.

But in the real world, you can't always assume 8 % growth.

And with the way these guys go through money, that 6M could have easily went bye bye in a year or two.

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You can call Bonilla fiscally overly conservative, say he left big money on the table, doesnt understand the effects of inflation etc etc but lets not forget how young he was when he made that decision. In retrospect seems to be a pretty heady call for a 20 something year old guy. Calling him dumb is absurd. Dumb are the guys buying gold ropes, ice,  Bentleys, Lambos, and 2 years after they cant play sports anymore all their "friends" are gone and they cant buy Christmas presents for their family. Maybe I am wrong but I dont believe he will ever have this problem.

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19 minutes ago, Kleckineau said:

Dumb are the guys buying gold ropes, ice,  Bentleys, Lambos, and 2 years after they cant play sports anymore all their "friends" are gone and they cant buy Christmas presents for their family. Maybe I am wrong but I dont believe he will ever have this problem.

Neither will I ...😭

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On 6/2/2020 at 9:26 AM, Jet Nut said:

 

Because the value of cash every year goes down.  Think about it, what was a million dollars worth all those years ago?  Bonilla signed the biggest deal and he was making under $6 mil.  Today that would have been 30, tells you all you need to know right there how much more that money was worth back then.  You would rather get a million in 2000 than 2020

Plus theres the extra bonus of gaining the benefit of taking that $30 mil and investing it.  Even at a moronic 8% return that's lost mils

And for even more bonus points the Coupons didnt have to pay out $30 mil all at once, was a slow payment plan that wasn't even felt in their pockets as opposed to $30 mil payment.  And even better for them they are paying out the mil this year that's not worth as much as it was in 2000, feel it less than back in 2000,  they also would have invested that 30 mil and used the returns to offset some of the owed moneys  

It sounds odd, but when you really think about it, it was a smart move by the Coupons

Again, money today is worth more than money tomorrow.  

Honestly, I'm too lazy to look up what year the Madoff scandal happened, but after it did, the Wilpons have become one of MLBs most cash poor owners. No way they could've become owners of a franchise after it happened. If it wasn't for Baseball bailing them out, they'd be long gone. (Grrrrr)

You say here "the Coupons didn't have to pay out 30 mil at once" When did, and why would they have had to do that? I think @Thai Jets numbers are correct and they owed him 5.9mil. They never owed him 30, much less owed it to him "at once."

If you have any idea of how these type of settlements usually work, offering 35 years of 1.19 mil per (again, thinking my numbers are right, but even if they're close) is a slam dunk win for Bonilla. 

Even with inflation being figured in, which I'm sure it was by both parties, I'm surprised you feel otherwise.

*shrug* I have to be honest here, I'm blown away by this discussion. I don't know why, but I thought Bonilla was getting $250,000 per year from the Mets.

EDIT     I just saw the article you linked. very interesting. I'm not sure I agree with it, but it most definitely lends credence to your opinion. 👍 Then when we add in the opinion of our resident financial wizard (and 17 handicap) @southparkcpa also, who am I to disagree?

Ah well, I wish I had these type of financial concerns...

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On 6/2/2020 at 9:26 AM, Jet Nut said:

 

Because the value of cash every year goes down.  Think about it, what was a million dollars worth all those years ago?  Bonilla signed the biggest deal and he was making under $6 mil.  Today that would have been 30, tells you all you need to know right there how much more that money was worth back then.  You would rather get a million in 2000 than 2020

Plus theres the extra bonus of gaining the benefit of taking that $30 mil and investing it.  Even at a moronic 8% return that's lost mils

And for even more bonus points the Coupons didnt have to pay out $30 mil all at once, was a slow payment plan that wasn't even felt in their pockets as opposed to $30 mil payment.  And even better for them they are paying out the mil this year that's not worth as much as it was in 2000, feel it less than back in 2000,  they also would have invested that 30 mil and used the returns to offset some of the owed moneys  

It sounds odd, but when you really think about it, it was a smart move by the Coupons

Again, money today is worth more than money tomorrow.  

So you think that his payout didn’t incorporate an embedded return?

and money today is worth the almost the same as money in the future. 

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3 hours ago, Kleckineau said:

You can call Bonilla fiscally overly conservative, say he left big money on the table, doesnt understand the effects of inflation etc etc but lets not forget how young he was when he made that decision. In retrospect seems to be a pretty heady call for a 20 something year old guy. Calling him dumb is absurd. Dumb are the guys buying gold ropes, ice,  Bentleys, Lambos, and 2 years after they cant play sports anymore all their "friends" are gone and they cant buy Christmas presents for their family. Maybe I am wrong but I dont believe he will ever have this problem.

A home run trade.  Especially since it keeps him on a spending leash. 

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3 hours ago, 14 in Green said:

Honestly, I'm too lazy to look up what year the Madoff scandal happened, but after it did, the Wilpons have become one of MLBs most cash poor owners. No way they could've become owners of a franchise after it happened. If it wasn't for Baseball bailing them out, they'd be long gone. (Grrrrr)

You say here "the Coupons didn't have to pay out 30 mil at once" When did, and why would they have had to do that? I think @Thai Jets numbers are correct and they owed him 5.9mil. They never owed him 30, much less owed it to him "at once."

If you have any idea of how these type of settlements usually work, offering 35 years of 1.19 mil per (again, thinking my numbers are right, but even if they're close) is a slam dunk win for Bonilla. 

Even with inflation being figured in, which I'm sure it was by both parties, I'm surprised you feel otherwise.

*shrug* I have to be honest here, I'm blown away by this discussion. I don't know why, but I thought Bonilla was getting $250,000 per year from the Mets.

EDIT     I just saw the article you linked. very interesting. I'm not sure I agree with it, but it most definitely lends credence to your opinion. 👍 Then when we add in the opinion of our resident financial wizard (and 17 handicap) @southparkcpa also, who am I to disagree?

Ah well, I wish I had these type of financial concerns...

I’m down to a 12 mother fukker😂

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