DeGrom Deal Done

[Fman99]

Yay for more deGrom!

[kcmets]

Won't be long before a cold one is $15 at the ol' ball yard....

[Frayed Knot]

deGrom presser going on NOW!!!!



JdG, Brodie, and Jeffy on the podium

[Valadius]

BVW: "Omar Minaya was very helpful in explaining to me how these deals get done with the Mets"

[Edgy MD]

Press conference from Nationals Park.



https://www.mlb.com/mets/video/jacob-degrom-news-conference-c2523952183https://www.mlb.com/mets/video/jacob-degrom-news-conference-c2523952183

[kcmets]

Lol, it's on MLB Channel here but not SNY?

[Valadius]

BVW: David Wright helped come up with the deal structure

[Valadius]

BVW: There were "ebbs and flows" over the course of months of negotiations

[Valadius]

BVW: I made a 7-11 run to get taquitos for Jake

[Edgy MD]

=kcmets post_id=5228 time=1553706606 user_id=53]
Lol, it's on MLB Channel here but not SNY?

[Edgy MD]

"Brodie, Edgy DC of the Crane Pool here. Congratulation on the deal. Now that it's done, do you see this deal as a baseline from which you can work from in approaching Zach Wheeler and Noah Syndergaard? Do you see those opportunities opening up now?"

[Edgy MD]

The lack of a Stacey deGrom presence was a downer. Contract signing press conferences need wives and babies.

[seawolf17]

BVW: David Wright helped come up with the deal structure

"Here's the structure, Brodie. Give the guy the fuckin' money."

[Frayed Knot]

$52.5 million of deGrom's new deal will be money deferred until the 2030's

So right about the time when those annual lol-Mets/Bonilla stories should be petering out, the press will have deGrom payment stories to chuckle over.

[Centerfield]

Frayed Knot wrote: $52.5 million of deGrom's new deal will be money deferred until the 2030's So right about the time when those annual lol-Mets/Bonilla stories should be petering out, the press will have deGrom payment stories to chuckle over.

Not that I have any expectation of this, but I hope that the press would treat those situations fairly.



Locking up a Cy Young winner and deferring some money to try to win a title is one thing. Buying out a bad contract through a payment plan that only makes sense if you continue to get Ponzi-scheme like returns on you current investment is another.

[Ceetar]

Frayed Knot wrote: $52.5 million of deGrom's new deal will be money deferred until the 2030's So right about the time when those annual lol-Mets/Bonilla stories should be petering out, the press will have deGrom payment stories to chuckle over.

And they'll all ignore the hard facts that deGrom won't be paying taxes on that as a (likely) resident of Florida and no longer a New York employee and will end up taking home more of it.



Hell, the same with Bonilla. Yes, they were banking on a lot of interest, but even at a more conservative rate of return they probably still made out long term.



also this is super commonplace.

[Edgy MD]

I'm not smart on such matters. But I think it's been measured a few times (https://www.businessinsider.com/mets-bobby-bonilla-deal-smart-2015-7here's one), and argued that the Bonilla deal worked for the Mets.

[Frayed Knot]

You guys think today's snarky press is going to let some inconvenient tripe like facts get in the way of future mocking?

[Centerfield]

Edgy MD wrote: I'm not smart on such matters. But I think it's been measured a few times (https://www.businessinsider.com/mets-bobby-bonilla-deal-smart-2015-7here's one), and argued that the Bonilla deal worked for the Mets.

An assumption of 8% returns seems kinda sketchy.

[Edgy MD]

I'm not smart on such matters.

[Centerfield]

I'd like to think I'm pretty tough on the media myself, but I feel like the Bonilla deal gets mocked for a bunch of different reasons. Specifically:



1. It's Bobby Bonilla. And I guess more importantly, it's Bobby Bonilla and the Mets. It was a mistake to get him the first time, it was a mistake to get him the second time, and now the Mets have to be reminded of that mistake into perpetuity.

2. Bonilla happened because of Rojas. We were trying to dump the $4.5 million owed to Rojas. So in dumping a bad contract, we took on an even worse contract. Bonilla had 2 years left at $5.9 million per. So the Mets somehow turned $4.5 in bad contracts into $34.5 million. And I get it present value, blah blah blah, but the numbers are laughable.

3. Deferred money is expected when you sign a star. Like Jake. Deferred money for a malcontent because you were trying to dump the contract of a middle reliever? Well...

4. Madoff. This is a big part of the story.

[Ceetar]

I think they were stealing more than that with Madoff, and they got what, 12 years or something of it on that money already? And then you have to factor in present value.



Also that Bonilla's contract is like bagel money to them even if it ended up being a wash instead of a windfall for both of them.