Win now, pay later: Diamondbacks paid heavy price for 2001 World Series
http://www.azcentral.com/story/spor...ries-win-now-pay-later-diamondbacks/14153379/
Bernard Gilkey last played for the Diamondbacks on June 21, 2000, completing his 161-game stay with a pinch-hit single to left field.
Fourteen years later, the club is still showing its gratitude with an annual paycheck to the Missouri resident's bank account worth nearly $1 million.
The journeyman outfielder is the recipient of deferred money, a tool professional sports teams use to delay payment for the services of athletes they want right away. Restrictions by leagues' collective-bargaining agreements have made the move less popular, but beneficiaries remain across the sports landscape.
The cost can be enormous for the teams that agree to such terms.
The Diamondbacks paid a heavy deferred price for their high spending in pursuit of the 2001 World Series championship, only recently emerging from under the red- ink tide. Other teams have been less fortunate.
http://www.azcentral.com/story/spor...ries-win-now-pay-later-diamondbacks/14153379/
Bernard Gilkey last played for the Diamondbacks on June 21, 2000, completing his 161-game stay with a pinch-hit single to left field.
Fourteen years later, the club is still showing its gratitude with an annual paycheck to the Missouri resident's bank account worth nearly $1 million.
The journeyman outfielder is the recipient of deferred money, a tool professional sports teams use to delay payment for the services of athletes they want right away. Restrictions by leagues' collective-bargaining agreements have made the move less popular, but beneficiaries remain across the sports landscape.
The cost can be enormous for the teams that agree to such terms.
The Diamondbacks paid a heavy deferred price for their high spending in pursuit of the 2001 World Series championship, only recently emerging from under the red- ink tide. Other teams have been less fortunate.
