The term "Billy Martin" was used by Daniel Ocean in the movie Ocean's 13. It refers to baseball player Billy Martin, fired then rehired by Steinbrenner a couple times.

It means giving a second chance.
"We're gonna give Banks a Billy Martin"
by Ilia O. June 16, 2007
Manager for the New York Yankees, 1975-78, 1979, 1983, 1985, 1988. One of the best managers ever because of his fiery temper, take-no-prisoners approach, and fights with the Boss. Died tragically in a car crash on December 25th, 1989.

NOT the guitarist for Good Charlotte.
wtf, every definition of billy martin on here is about good charlotte...if the original billy martin were alive today he would kick this other billy's pansy ass
by C-Mills September 12, 2007
Manager of the New York Yankees (AKA the worst team ever) in the 1970s and 80s. He was fired and re-hired almost half a dozen times by erratic lunatic/Yankees owner George Steinbrenner.
"Today in sports, George Steinbrenner just fired Billy Martin again. The Yankees haven't won a World Series in the 80s, and Steinbrenner's finger's on the button again!"
by WMT October 8, 2003
Billy Martin is also a term used for giving someone a chance to make something right or to make ammends. Yes it is a person, yes it is a term. Check out Ocean's Thirteen for that, though I believe the term came before the movie.
So your offering me a Billy Martin? Well I pass.
by Lillypain June 26, 2007
a talented guitarist of good charlotte. he's really creative, who even has his own clothing line called LeVel 27. He also designed most of the logos on GC's merch. Not only is he artistic but he has a great passion for music(including his fave band silverchair), playing video games, and drawing cartoons. Best of all he loves animals! keke.
by em September 6, 2003
is the beautiful electric guitarist for good charlotte and one of the best guitarists around too :) he has the same hairstyle as me :P
'' young and im hopeless, im lost and i know this, im goin nowhere fast thats what they say...''
by RANCID_RAWK May 25, 2003
Billy is the gorgeous guitar player in good charlotte (Benji too is gorgeous)and has the most beautiful eyes ever!He is amazing!
by Whoever July 12, 2003