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Anonymous buyer purchases $2 million worth of Strawberry's salary

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  • Anonymous buyer purchases $2 million worth of Strawberry's salary

    Anonymous buyer purchases $2 million worth of Strawberry's salary - CBSSports.com
    By Mike Axisa | Baseball Writer

    January 21, 2015 2:30 pm ET

    Given the present value of the deferred money on the $1.3 million sale price, the rate of return for the winning bidder is about 5 percent.

    The total value of the contract, which covered his 1985 through 1990 seasons, was $7.1 million, but nearly 40 percent of his $1.8 million team option in 1990 ($700,000) was deferred and put into an annuity with a 5.1 percent interest rate.

    That sure seems like a good long-term investment to me. The buyer paid $1.3 million now for a total of $2 million or so in 18 1/2 years. I'm certain the buyer put their accountant hard to work to make sure this made sense before pulling the trigger.

    Didnt even know the IRS did this.
    “You have power over your mind – not outside events. Realize this, and you will find strength.”– Marcus Aurelius

  • #2
    I thought Strawman was selling it so he could buy drugs.
    Fuck you, Tiger

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