Tuesday, December 23, 2014

Darryl Strawberry contract up for auction by IRS: Report

If you're looking for that holiday gift for the Mets fan who has everything, look no further than the IRS.

That's right, America's most unlikely shopping outlet, the Internal Revenue Service will soon sell the deferred salary — amounting to nearly $1.28 million — the Mets still owe Darryl Strawberry. 

The IRS reportedly has the right to sell off Strawberry's 1985-90 contract with the Mets to satisfy taxes owed by the former All-Star outfielder, according to ESPN's Darren Rovell. Court documents show Strawberry failed to pay $542,572 in taxes from 1987-90 plus another $80,000 from 2003-04 for a total of $622,572 in back taxes.

The IRS said in a statement Monday that the agreement is worth about $1,279,000. The minimum bid is $550,000 in the auction, which is scheduled for Jan. 20 at the IRS office in Fairview Heights, Illinois.

Mail-in bids must be received by Jan. 16.

Chief U.S. District Judge M. Casey Rogers in Pensacola, Florida, issued an order Sept. 5 that the agreement be auctioned to satisfy tax liens for Strawberry's federal tax debts for 1989, 1990, 2003 and 2004.

Here's the IRS auction page explaining how a fan can buy the $1.28 million contract spread across the next 18 years and seven months in exchange for the up front minimum bid of at least $550,000 to settle a $622,572 debt.

A payment of 20 percent of the minimum must accompany the bid, and the remainder is due within 60 days of the bid's acceptance.

It's almost as complicated as Strawberry's life itself.

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