Bruce Sutter
Posted: Thu Jun 28, 2018 7:28 am
Did anyone else know this?
Bruce Sutter has not been paid the principle of his salary from any of his seasons with the Atlanta Braves when they signed him as a free agent. Don't know who his agent was, but that guy was brilliant!!
He signed a 9.1 million dollar contract in 1984 but arranged it to be paid on a deferred basis. The result of this is he's received money every year (1.12 Million/yr) through the present (all counted as interest on his contract) from the Atlanta Braves and will until 2022 when the actual 9.1 million dollar salary has to be paid to the then 69 year old Hall of Famer who last pitched in 1988. Yeah, Sutter makes the Mets Bonilla deal look like peanuts.
Brilliant agent turned a 9 million dollar contract into a 51 million dollars over 30+ years contract via deferred compensation.
Reason I bring this up, there is an article on The Athletic about deferred compensation making Canadian teams competitive economically to high-priced UFAs.
This is a lesson in what can go wrong with deferred compensation. Paying a guy for 30+ years after he is done playing.
Bruce Sutter has not been paid the principle of his salary from any of his seasons with the Atlanta Braves when they signed him as a free agent. Don't know who his agent was, but that guy was brilliant!!
He signed a 9.1 million dollar contract in 1984 but arranged it to be paid on a deferred basis. The result of this is he's received money every year (1.12 Million/yr) through the present (all counted as interest on his contract) from the Atlanta Braves and will until 2022 when the actual 9.1 million dollar salary has to be paid to the then 69 year old Hall of Famer who last pitched in 1988. Yeah, Sutter makes the Mets Bonilla deal look like peanuts.
Brilliant agent turned a 9 million dollar contract into a 51 million dollars over 30+ years contract via deferred compensation.
Reason I bring this up, there is an article on The Athletic about deferred compensation making Canadian teams competitive economically to high-priced UFAs.
This is a lesson in what can go wrong with deferred compensation. Paying a guy for 30+ years after he is done playing.