IRS to auction Strawberry's deferred compensation agreement
ST. LOUIS (AP) The Internal Revenue Service is auctioning the deferred compensation agreement that was part of Darryl Strawberry's 1985-90 contract with the New York Mets to satisfy taxes owed by the former All-Star outfielder.
The IRS said in a statement Monday 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.
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.
The auction was first reported by ESPN.