WHEN we first wrote about this record-shattering offer sheet put forward by former PBA ballclub Tanduay to superstar Danny Ildefonso, the base salary that amounted to P96 million over 16 years merited ohhs and ahhs.
Well, it turned out we barely scratched the surface.
Days ago, a source furnished us a copy of the official offer sheet that was submitted by Tanduay in 2001 to the Commissioner's Office for Ildefonso, which was then the reigning MVP and the star of rival ballclub San Miguel.
Our eyes widened at the mere sight of the bonus scheme contained in the contract - figures which, for sure, are through the roof even by today's standards.
Forget about the base salary, which at the league maximum of P500,000 a month would've amounted to P6M a year. Or the won-game bonuses which were supposed to start at P50,000 (eliminations), P60,000 (semifinals) and P70,000 in the first year of the contract in 2001 and gradually rise to P125,000, P135,000 and P145,000 in the deal's final year in 2016, when Ildefonso would be 40 years old.
Under the terms of the offer, those won-game bonuses would quadruple if Ildefonso was named Best Player of the Game.
The most lucrative part of the single-biggest offer sheet in PBA history is its bonus package, starting with - hold your breath - a P6-million bonus for an MVP award and 1,200 percent of Ildefonso's salary - meaning P6 million - if Tanduay completed a grand slam in one season in each of those 16 years.
There's more.
Ildefonso was to receive one-month salary each time Tanduay entered the quarterfinals in a conference, two months worth of his salary upon entering the semis, four months upon entering the finals and five months' salary, or P2.5 million, for a championship in each conference in the 16-year duration of the contract.
There's also an extra provision that guarantees Ildefonso six first-class tickets to Los Angeles each time the team made it to the semifinals, as well as a brand-new car worth P1.5M once the team entered the finals.
Now, we'll allow you to catch your breath for a moment before we get to the meatiest part of the contract, which guaranteed a bonus of P5M to P6M (depending on the year) for an MVP award and P1.5 million plus a car of his choice 'not more than P4M' for a Best Player of the Conference award.
Note: Ildefonso won the league MVP award in 2001.
That's not all, there are also separate juicy packages for a place in the Mythical First and Second Teams, a spot in the Most (sic) Defensive Team, Sportsmanship Award, and places in the Top 10 of the rebounding, points, and blocked shots categories.
To top that off, the final addendum guaranteed 600 percent of his monthly salary if the team won two conference championships in a season and 1,200 percent - or P6 million - for a grand slam.
Too bad the offer sheet was voided by the PBA Commissioner's Office which ruled that it went against the spirit of the salary-cap rule which was enforced to "contain a [bidding] war among the teams and keep compensation expenses of players by the teams within manageable and affordable levels."
Sayang talaga.