Dodgers owe Manny Ramirez (retired) $25M over next 3 years

[Auggie]

cbssports.com / 6-13-11

Frank McCourt appears to have a fight on his hands to meet all his payroll obligations for the month of June.

McCourt, who has already skated past previous payroll dates by the skin of his teeth, now has to meet payroll for both June 15 and 30, while contending with a court hearing June 22 that could determine his future with the Dodgers. And that's not all, as Manny Ramirez's 2011 deferred payment from his two-year, $45 million deal signed 2009 is due by June 30.

ESPN's Molly Knight confirmed on Monday that Ramirez is due $8.33 million by June 30, according to a source. However, it was already well-known that Ramirez was due $8.33 million by June 30 of 2011-13, with initial reports, including SI.com's Jon Heyman, coming shortly after the deal was inked in time for the 2009 season. The contract details had Ramirez being paid $10 million in 2009 and 2010 for his services, with deferred payments at no interest of $8.33 million due each of 2011-13.

http://www.cbssports.com/mcc/blogs/entry/22297882/30004333

Holy cow...

[Jack Rabbit]

1. And we're wondering how that fabled franchise ran out of money

This one wasn't necessarily Lloyd Blankfein's fault.

[hughee99]

2. Hell, that's nothing, just ask the Mets

The Mets "got out of" paying Bobby Bonilla 5.9 million to just go away by agreeing to pay him $1.19 million a year from 2011 until 2035 ($29.8 million in total).
Saberhagen (who played for the Mets from 92-95) will still be on their books until 2029 at $250K a year, and I think they just finished paying off Mo Vaughn last year.

http://online.wsj.com/article/SB10001424052748703426004575339013108198050.html

[Auggie]

3. Amazing blunders

The Bonilla deal makes no sense at all. What were they thinking?

[Kingofalldems]

4. They thought they were making a lot of money at the time

with an investor named Madoff.