Bobby Bonilla Day: New York Mets pay him $1.19M every July 1 - ESPN
The calendar has turned to July 1, and that means one thing: It's time for Mets fans everywhere to wish each other a Happy Bobby Bonilla Day! Why? On Tuesday, 62-year-old Bobby Bonilla will collect a check for $1,193,248.20 from the New York Mets, as he has and will every July 1 from 2011 through 2035.
Because of baseball's salary structure, Bonilla's annual payday is often more than some of the game's current young stars will make in a given year.
But the Mets are not alone in the practice of handing out deferred payments to star players long after they last suited up for the team, with past MVPs and Cy Young winners among the notable names still collecting annual paychecks from their previous employers.
This past offseason, deferred money became an even bigger talking point across the sport with the Los Angeles Dodgers frequently opting for the structure, highlighted by a deal with Shohei Ohtani that will delay payments for $680 million of his $700 million megadeal. He'll start receiving $68 million per year in 2034.
Here is everything you need to know about Bonilla's payday, deferred money in MLB and the current players making less for the 2025 season than Bobby Bo will receive from the Mets on Saturday.
In 2000, the Mets agreed to buy out the remaining $5.9 million on Bonilla's contract.
However, instead of paying Bonilla the $5.9 million at the time, the Mets agreed to make annual payments of nearly $1.2 million for 25 years starting July 1, 2011, including a negotiated 8% interest.
At the time, Mets ownership was invested in a Bernie Madoff account that promised double-digit returns, and the Mets were poised to make a significant profit if the Madoff account delivered — but that did not work out.
Under new owner