Posts Tagged ‘Peter Minuit’

Bobby Bonilla’s Payday

Friday, April 7th, 2017

At the turn of the 21st century, while the world scrambled to confront a Y2K threat to computers, Bobby Bonilla and the management of the New York Mets came to an agreement regarding salary—defer it.  Well, a lot of it.  From 2011 to 2035, Bonilla gets annual compensation somewhere in the neighborhood of $1.19 million.  This financial ritual happens every July 1st—a nice way to start the second half of the year for the Bronx native, a multiple defensive threat at third base first base, and right field.

Bonilla was owed $5.9 million by the fellas in blue and orange; his last year in a major league uniform was 2001.  Apparently, the Mets believed that the time value of money combined with comfortable returns from Bernie Madoff’s handling of accounts made the deferment a wise maneuver.  It was a financial mistake—serious, if not epic.

Madoff, of course, proved to be an expert disciple of the Ponzi School of Fraud, with a major in Deceit.

Bonilla’s was not the first deal to backfire.  And it will not be the last, certainly.  Desi Arnaz negotiated the rights to the negatives of I Love Lucy.  CBS acquiesced, figuring that nobody would watch an episode once it aired.  I Love Lucy became a juggernaut in reruns.

IBM calculated that profits came from the sale of computers, not computer software.  Consequently, it dismissed an opportunity to be a part of a little company started by a spectacled Harvard dropout from Washington state.  Microsoft.

And there’s Peter Minuit getting Manhattan Island from the Dutch for 60 guilders—$24 in beads.  Or so the legend goes.

Bonilla’s original deal, which closed in 1991, made him the “highest-paid player in team sports” because of an organization “with a flair for the dramatic and an unprecedented expenditure of cash,” wrote New York Times sports scribe Joe Sexton, who broke down the terms: guaranteed five-year contract, $27.5 million in base salary, and $1.5 million in a “promotional arrangement.”

It appeared to be a signal of a new era.  Eddie Murray, as much a fixture of Baltimore as the Fort McHenry National Monument, signed with the Mets in the same off-season.  “Bonilla may not be a colossal talent, but his acquisition registers an enormous impact on the Mets, the shifts that result likely to be felt in everything from the club’s public perception to its daily lineup,” opined Sexton.  “For Bonilla is both an engaging personality—his charisma can infect a clubhouse, his unaffected self-confidence can defuse the pressures of performance—and an intriguing offensive force.”

Bonilla had a 16-year career, playing with eight teams:

  • Pirates
  • Mets
  • Dodgers
  • Orioles
  • Marlins
  • Braves
  • Cardinals
  • White Sox

His career stats, though not in the Cooperstown sphere, are formidable:

  • .279 batting average
  • 2,010 hits
  • 408 doubles
  • 287 home runs
  • 1,084 runs scored
  • 1,173 RBI

Further, he cracked the barriers of a .300 batting average three times and 100 RBI or more four times.

For America, the beginning of July indicates the annual celebration of the country’s independence from Great Britain.  An omnipresence of memorabilia colored red, white, and blue envelops us, as do red and green five months hence.

For Roberto Martin Antonio Bonilla, the beginning of July indicates a seven-figure payment from a deferred compensation deal that will conclude in 2015.  No windfall, this.  It’s simply a creative structuring of salary.

Somewhere, Jack Benny is smiling.

A version of this article appeared on www.thesportspost.com on July 1, 2016.

Ebbets Field: More Than A Stadium

Friday, October 28th, 2016

A baseball shrine débuted in 1913, one in a string of ballparks ushering in a new era for the National Pastime.  Philadelphia, Detroit, Boston, and Chicago offered modern facilities for the fans.    In Brooklyn, a new stadium became a second home for borough residents from Canarsie to Coney Island.  Ebbets Field.  Home of the Brooklyn Dodgers.

When the Dodgers left Brooklyn after the 1957 season, Ebbets Field’s days were numbered.  Their spirit amputated, Dodger fans mourned the loss represented by the soulless void of a silent Ebbets Field.

Obsolete and vacant as a once gloried dominion of baseball excellence, Ebbets Field no longer served a valuable function.  What began as the innovative brainchild of then owner Charles Ebbets in 1913 aged into an archaic edifice.  Once a nucleic fixture for Brooklyn, Ebbets Field balanced on the precipice of ignominy.  Its storied life ended in 1960 with demolition that placed an arctic exclamation point on the end of an already frosty sentence—the Brooklyn Dodgers are no more.

If fans run their fingers over the memories, they feel scars that never fully healed and, consequently, trigger a bittersweet though palpable aura.  Bitter for the abandonment.  Sweet for the memories.

Vividly, they recall Jackie Robinson’s fiery, pigeon-toed style of running, Carl Furillo’s master of baseball caroms off Ebbets Field’s idiosyncratic right field wall, and Roy Campanella’s powerful swaths of National League pitching.

But the memories are more than homages to a great baseball team that patrolled the verdant pasture at 55 Sullivan Place, an address that no longer appears on Brooklyn’s Post Office rolls.  For those who saw the Dodgers play in the Jackie Robinson era, the memories reveal a depth of love betrayed in Shakespearean proportions.

Walter O’Malley’s decision to move the Dodgers a continent away from Brooklyn, a felonious act in the hearts and minds of the Dodger faithful, anchored in a sweetheart deal—the power brokers of Los Angeles gave O’Malley the real estate of Chavez Ravine in an exchange for the environs of the city’s Wrigley Field.  Not since Peter Minuit purchased Manhattan Island for 60 guilders on behalf of the Dutch had a land deal bared incalculable value for the land’s new settlers.

Dodger Stadium eclipsed Ebbets Field in look, feel, and modernity.  Its wavy outfield roof, capacity for approximately 56,000, and seat colors evoking a southern California warmth—yellow, light orange, turquoise, and sky blue—did not look anything like Charles Ebbets’s brick-faced structure that was a breakthrough for pre-World War I baseball, but a relic for the Space Age.  O’Malley’s new facility represented the post-World War II era, when migration to newly created suburbs forced travel by car, thereby creating a need for parking spaces at stadium.  Ebbets Field was a ballpark sandwiched into one city block with a capacity hovering around 36,000 and approximately 700 parking spaces.

A version of this article appeared on www.thesportspost.com on June 15, 2013.

Thomson Hit the Shot Heard ‘Round the World, But Who Was the Winning Pitcher?

Thursday, June 20th, 2013

1951.  The Giants Win the Pennant!  Ralph Branca.  Brooklyn Dodgers.  Bobby Thomson.  New York Giants.  Leo Durocher.  Polo Grounds.    Russ Hodges.  The Shot Heard ‘Round the World.  Larry Jansen.

Larry Who?

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