Miami Heat To Pay Chris Bosh His Final Payment of $434,939 After 120 Twice-Monthly Contract
Two-time NBA champion Chris Bosh was a key member of the Miami Heats’ back-to-back NBA titles in 2012 and 2013. He last played for the Heat in the 2015-16 season. Today, the team will pay him the last of the 120 installments he was owed in his contract.
The 11-time all-star has been paid $434.393 by the Miami Heat twice-monthly since 2017. This is not the first deal of it’s kind, however. A former professional baseball player did something similar and his name is brought up every year when he get’s his money.
A Bobby Bonilla-type deal ends: Former Miami Heat standout Chris Bosh will be paid the last of his 120, twice-monthly, $434,393 installments that started being paid to him Nov. 15, 2017 and are scheduled to end today, Nov. 1, 2022. Bosh last played in the ‘15-‘16 season. pic.twitter.com/S26vgqn6T0
— Adam Schefter (@AdamSchefter) November 1, 2022
The Miami Heat pay Chris Bosh his final payment of $434,393 today
Bosh followed in the footsteps or former MLB player, Bobby Bonilla. He was released from the New York Mets in 2000, and agreed to a unique contract. A contract somewhat like Bosh’s. Bonilla has been paid $1.19 million every July 1 starting in 2011 and ending in 2035. He’ll be 72 then.
It was a smart choice for Bosh to work his contract out this way. Roughly 78 percent of professional athletes go broke three years after retirement. Bosh was not going to be one of those athletes in the 78 percent. He was only 32 when he stopped playing and still had a long life ahead of hm. That’s why getting paid in the installments was a smart choice for Bosh to not risk blowing through his money.
Twice a month since 2017, the Miami Heat have paid Chris Bosh — who last played in 2016 — $434,393 as a part of his contract agreement.
Today, the last of 120 installments will be paid. pic.twitter.com/imEJvCW34t
— Front Office Sports (@FOS) November 1, 2022
He’s had a small career in sports media after his playing time as well. Bosh joined TNT as an NBA studio analyst in 2017, but was technically still under contract with the Heat. In that time he also tried to make a return to the NBA, but finally retired in 2019.
Though his 13 year playing career was cut short due to a series of medical issues, he’s still one of the best PFs to grace the hardwood. He was inducted in the Hall of Fame in 2021.
Source: Basketball Insider