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12-22-2014, 12:03 PM #1
- Join Date
- Mar 2013
- Posts
- 126
Strawberry Mets Contract Deferred Money At Auction
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/stor...ryl-strawberry
Vick http://espn.go.com/new-york/nfl/stor...ck-nearly-debt
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12-22-2014, 06:19 PM #2
- Join Date
- Feb 2014
- Posts
- 1,016
Re: Strawberry Mets Contract Deferred Money At Auction
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.