Ken Griffey Jr is still being paid by Reds (also is deferred money worth it? )

[hockeykicker]

I know we all joke around about bobby bonilla but apparently every year since 2010 the reds pay ken griffey jr $3,593,750 and it will continue until 2025

This is becoming a norm for some teams (nats etc) will teams regret this idea in the future? Not saying reds could use that 3ish mil but just curious

Click to read more...

 

[BKIslandersFan]

Well, a dollar today is worth more than a dollar tomorrow as the saying goes in every economic courses.

I am guessing it really depends on interest rates and things like that.

 

[Dr Pepper]

I forget who it was, but didn't some pitcher from the Rockies just recently receive his last deferred cheque, after retiring in 2010?

EDIT: Mike Hampton.

Rockies will finally stop paying a pitcher they signed in 2001

 

[bleedblue1223]

It makes sense for teams economically, and it makes sense for players to an extent. Wise investors can make more if they receive everything up front, but for most athletes and regular people, the goal should be about ensuring financial security. Spreading the income out, even if it means losing out on interest or other returns means that there is less of chance of these guys having a horror story and blowing their fortune, which there are too many stories of.

 

[SSF]

No, deferring money only makes sense for the owners, why do you think they continue to do it?

 

[missingmika]

There's literally some random guy in the US getting a check from the Mets:

Mets cash owed to Strawberry won at auction