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Bonds deal to include deferred money

by Pants Man on Dec 11, 2006 5:58 PM PST Comment 29 comments

I expected this to be the case, but I'm disappointed nonetheless. Sabean's major triumph of the offseason (not signing any deals worth over $20M in this winter of madness) is diluted by the fact that all of his multi-year deals are backloaded to some extent, and we're going to pay Barry even more than the $20M he's already due to receive over 2008-2001. I am neither a fan of Sabean's shaking, nor a fan of his baking.

The good news, there will be more flexibility to add players in 2007... preferably ones that don't come with crippling backloaded contracts.

From AP:

Barry Bonds is willing to wait for a significant portion of his paycheck until after he's done playing for the San Francisco Giants.

"That was very important to us to arrive at a deal. It was almost the only way we could arrive at a deal," Giants general manager Brian Sabean said Monday without officially announcing Bonds' new contract.

"There was definite give and take. If we hadn't been able to shake and bake the financial part of this we wouldn't have been able to go forward."

http://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2006/12/11/sports/s170615S81.DTL

This FanPost is reader-generated, and it does not necessarily reflect the views of McCovey Chronicles. If the author uses filler to achieve the minimum word requirement, a moderator may edit the FanPost for his or her own amusement.

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Re: Bonds deal to include deferred money

This does not suprise me at all. Here is my guess as to the breakout. $8M signing bonus defered to 2012 and 2013 at $4M per year. $8M 2007 Salary plus Bonuses of $1M for 400 PAs, $1M for 450 PAs, $1M for 500 PAs, and $1M for 550 PAs.

Frankly, I like it.

by giantsrainman on Dec 11, 2006 6:02 PM PST reply actions 0 recs

Re: Bonds deal to include deferred money

I think that's a rational guess. He had 493 PA in 2006. They said he would get $20 million if he did the same thing he did last season, so I guess that means 500 PA. 600 PA would be pretty unrealistic at this point. I think your scenario makes sense.

I wonder when the incentive money will be paid? It would pretty much hamstring their payroll to pay it this season. Maybe $1 million/yr over 2008-2111.

"When the power of love overcomes the love of power the world will know peace." - Jimi Hendrix

by GiantJim on Dec 11, 2006 7:51 PM PST up reply actions 0 recs

$103 million in incentives?

Wow...He's not going to reach like 10000 PA.

I blame F.P. Santangelo, while F.P. somehow blames Kuiper.

by WalrusMan on Dec 11, 2006 7:58 PM PST up reply actions 0 recs

Re: Bonds deal to include deferred money

Didn't bonds already have 10 million bucks in deferred money due to him..I am not sure deferred money is good for the long term health of a franchise..

I would just as soon they give Bonds all the money now..

by Sinister Dick on Dec 11, 2006 6:46 PM PST reply actions 0 recs

Re: Bonds deal to include deferred money

Actually, Barry has $35M in defered money already due to him. Barry's last contract called for defering $5M a year from 2002 thru 2006 to 2007 thru 2011. In addition Barry got at $1M/yr 10 year personal services contract that goes into effect upon his retirement.

I suspect that this contract defers some more money into 2012 and 2013 so that the Giants have the 2007 dollars to sign Barry Zito. This is simply the way business is conducted in MLB. The Giants are harly unique in this. Even the Yankees do this.

by giantsrainman on Dec 11, 2006 7:05 PM PST up reply actions 0 recs

Re: Bonds deal to include deferred money

The good news is that the last CBA required teams to fund a reserve for deferred money in a separate bank account, covering most of the money owed, except for $2M, which paid on an accrual basis over time to the account (e.g. if over 5 years, Giants pay $400K each year into account). So most of the deferred money has already been paid into the reserve bank accounts and there is little money each year being paid into the deferred payment accounts.

Don't know what the newest CBA says, but can't imagine that the terms could have gotten better because this clause got pushed through into the CBA because of the player's association's fear of what happens to a players deferred money if a team should go under (D-backs were close to going under a few years back).

As rainman astutely noted, everybody does it, Griffey, A-Rod and others have had deferred huge sums of money, but I see the point that this just pushes the pain into the future. That is why the CBA was modified to force teams to fund the deferred amount pretty much immediately, there's only a half year lag for most of the amount above $2M.

I would also add, the money is to sign Zito or be able to trade for a big salary player like, say, Sexson or Burrell. Looks like they will finally dip into their Maddux money this season if they get a big salary player.

Now let's cross our fingers...

by obsessivegiantscompulsive on Dec 12, 2006 12:27 PM PST up reply actions 0 recs

Re: Bonds deal to include deferred money

Martin, there is a loophole in the CBA. The have to fund defered salary but they do not have to fund a signing bonus that is scheduled for payment later. Lots of teams are taking advantage of the loophole.

by giantsrainman on Dec 12, 2006 12:39 PM PST up reply actions 0 recs

Re: Bonds deal to include deferred money

OK, that explains everything, I read that section over and over again and I couldn't figure out what the loophole was other than signing bonus but I didn't know how it worked out that way.

Re-reading the old CBA, clearly they separate signing bonuses from deferred compensation, but then barely mention anything about the signing bonus, providing the loophole. Thanks!

One thought, though, if it was known that this loophole exists, why didn't it get closed in the newest CBA?

Now let's cross our fingers...

by obsessivegiantscompulsive on Dec 12, 2006 1:10 PM PST up reply actions 0 recs

Re: Bonds deal to include deferred money

When Zito is signed and rips sh!t up in the National League, Pants Man will eat my shorts!

I own my own business and I'm a giants fan; being a Giants fan is harder.

by hairball on Dec 11, 2006 7:09 PM PST reply actions 0 recs

Re: Bonds deal to include deferred money

Yikes. It'll take about three or four years before I could safely say that a Zito signing was a wise long-term move... I imagine your shorts will be awfully crusty by then. You'll have to settle for me buying you a beer.

"Robb Nen is going to get you" - Benito Santiago to Chipper Jones, 10/7/02

by Pants Man on Dec 11, 2006 8:48 PM PST up reply actions 0 recs

Re: Bonds deal to include deferred money

Here is a crazy thought. What if Barry is planning on turning his previous defered money and this newly defered money into a 10% stake in the Giants? Maybe Barry will be the next Managing Gereral Partner of the Giants upon MaGowan's retirement!

by giantsrainman on Dec 11, 2006 7:20 PM PST reply actions 0 recs

Re: Bonds deal to include deferred money

That's what Matt Williams did with the D-Backs. While I doubt Barry would be the managing general partner, it wouldn't be surprising to see that deferred money turn into a ownership stake once Barry retires.

If you whine about Liriano, I will .gif you.

by Fog City Blues on Dec 11, 2006 7:35 PM PST up reply actions 0 recs

Re: Bonds deal to include deferred money

This is WAAAAAAAAAAAAAY off topic, but does anyone know where to find stats on the Puerto Rican winter league? I heard that Linden and Brian Wilson are playing (maybe others) and i want to see how they're doing.

THANKS

I've been suffering from post traumatic stress disorder ever since Game 6.

by April3rdLifeBegins on Dec 11, 2006 7:34 PM PST reply actions 0 recs

Re: Bonds deal to include deferred money

Don't know where to find stats for the whole league, but someone on the main site posted Linden and Wilson's stats.

Linden: BA .373, 67AB, 3 2B, 4 HR, 7 RBI, 16 BB, 7 K, .597 SLG, .494 OBP

Wilson: ERA 0.00, 9.2 I, 1 W, 0 L, 8 S, 5 H, 6 BB, 14 K, .147 BA

by sfgreg on Dec 11, 2006 8:09 PM PST up reply actions 0 recs

Re: Bonds deal to include deferred money

Someone on the Giants official site I should say.

by sfgreg on Dec 11, 2006 8:09 PM PST up reply actions 0 recs

Holy Jicama!

Good gawd I hope that 2007 is the breakout year for one of these studs.

I own my own business and I'm a giants fan; being a Giants fan is harder.

by hairball on Dec 11, 2006 8:22 PM PST up reply actions 0 recs

Re: Holy Jicama!

I'll be greedy and hope it's a breakout year for both of these studs...and I'm not talking acne.

Biggest mankinder in the history of no brain.

by Goofus on Dec 12, 2006 10:55 AM PST up reply actions 0 recs

My predictions for next year..

Based on their performance..

Linden: .147 BA, 6 BB, 14 K, 29 AB
Wilson: .373 BA, 16 BB, 7 K, 4 HR, 22.1 IP

Here's to a good 2007. Or 2008. Or 2009. Or 2010. Or...

by WalrusMan on Dec 11, 2006 8:33 PM PST up reply actions 0 recs

Re: My predictions for next year..

If you bobble your head around real fast, Linden starts looking like the closer we've always been looking for, and Wilson our best option at first base. Which he may be anyway.

"When I think of how many times the Enemy has tried to kill Gary Busey..."

by multiphasic on Dec 11, 2006 10:22 PM PST up reply actions 0 recs

Re: Bonds deal to include deferred money

Great news, particularly on Wilson, who could play a big role in our 2007 bullpen.

Now let's cross our fingers...

by obsessivegiantscompulsive on Dec 12, 2006 1:12 PM PST up reply actions 0 recs

Re: Bonds deal to include deferred money

Updated stats are at

http://www.hitboricua.com/

Linden and Wilson play for Mayaguez.

"Robb Nen is going to get you" - Benito Santiago to Chipper Jones, 10/7/02

by Pants Man on Dec 11, 2006 8:44 PM PST up reply actions 0 recs

Re: Bonds deal to include deferred money

Yeah, I don't know who they play for either, but Youraguez is as good as Mayaguez.

Coming to you by proxy

by howtheyscored on Dec 12, 2006 12:09 PM PST up reply actions 0 recs

well played, sir

"Robb Nen is going to get you" - Benito Santiago to Chipper Jones, 10/7/02

by Pants Man on Dec 12, 2006 12:52 PM PST up reply actions 0 recs

Re: Bonds deal to include deferred money

thanks

I've been suffering from post traumatic stress disorder ever since Game 6.

by April3rdLifeBegins on Dec 11, 2006 8:12 PM PST reply actions 0 recs

Re: Bonds deal to include deferred money

As a side note, Sabean says that Bonds's deferred money (at least from the previous contract) comes from a different budget than the regular payroll budget.

by North Side Chicago Expatriate Giants Fan on Dec 12, 2006 1:33 AM PST reply actions 0 recs

Re: Bonds deal to include deferred money

That contridicts what I heard him tell Ralph on KNBR a couple months back. He was trying to lower expectations of what the Giants would be able to do during the off-season when he said something to the effect of "Don't forget, our budget has to include deferred moneies owed from previous years." He probably threw an "at the end of the day" in there somewhere, as well.

Biggest mankinder in the history of no brain.

by Goofus on Dec 12, 2006 10:54 AM PST up reply actions 0 recs

Re: Bonds deal to include deferred money

I believe that it was in a recent Mercury article... I don't have the link right now, but it is probably in the "Sabean won't apologize for signing Bonds" article.

by North Side Chicago Expatriate Giants Fan on Dec 12, 2006 12:37 PM PST up reply actions 0 recs

Re: Bonds deal to include deferred money

I'm pretty sure this is where the difference between deferred salary and deferred signing bonuses comes into play.

The Giants have deferred signing bonus money due to Kirk Rueter and some others in '07 that count against their '07 payroll. I believe this is the deferred money to which Sabean was referring on KNBR. The Bonds money is deferred salary, which as explained above, comes out of a reserve fund.

by kintetsu on Dec 12, 2006 4:14 PM PST up reply actions 0 recs

Re: Bonds deal to include deferred money

[Bonds] had arthroscopic surgery on his left elbow in October but is in good health, working out almost daily at UCLA.

Maybe Barry's the person who stole my SSN.

by lunaticfridge on Dec 12, 2006 11:05 AM PST reply actions 0 recs

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