Strawberry Mets Contract Deferred Money At Auction

[bgold]

Not game used, but a rare occurrence for something of this nature to pop up for sale.

Side-note, the Falcons sold Michael Vick's remaining debt liability to an investment firm a while back, probably what will happen with the Strawberry deferred money. Stories below.

Straw http://espn.go.com/new-york/mlb/story/_/id/12065943/irs-auction-new-york-mets-deal-owed-darryl-strawberry

Vick http://espn.go.com/new-york/nfl/story/_/id/12041876/new-york-jets-quarterback-michael-vick-nearly-debt

[danesei@yahoo.com]

Current value is $1.3mm and change. 4% for 20 yrs. Given that we're about to see 80s level interest rates, it's likely that the current value of the annuity lies somewhere between 50-70% of the face. Barring the Mets buying the annuity, a fair price is probably ~$750k-$850k. If anyone just won a lottery, jackpot or made $1mm, putting in a bid at $725k would be an interesting way to defer your payments (20 yrs of $8900 a month). The first year's payments would likely be applied to residual taxes, but after that, you'll be looking at $8900 a month with about 20% of that subject to earned income tax rates. Not a bad deal.