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What’s Bobby Bonilla Day? Revealing Why the Former Met Is Paid $1.19 Million on July 1 Every Year!

The calendar has changed to July 1, and that means one thing: It’s time for Mets fans everywhere to wish one other a Happy Bobby Bonilla Day! Why? On Friday, 59-year-old Bobby Bonilla will get a check for $1,193,248.20 from the New York Mets, as he has and will every July 1 from 2011 through 2035.

What Is Bonilla’s Annual payout?

What's Bobby Bonilla Day? Revealing Why the Former Met Is Paid $1.19 Million on July 1 Every Year!

Because of baseball’s contract structure, Bonilla’s annual payout is often more than some of the game’s current young stars will make in a given year — and this season that even includes the salary of one of the sport’s best sluggers and several possible 2022 All-Stars.

But the Mets are not alone in the habit of giving out delayed payments to famous players years after they last suited up for the team, with past MVPs and Cy Young winners among the notable names still getting annual paychecks from their prior employers.

Here is everything you need to know about Bonilla’s payout, deferred money in MLB, and the current players making less for the 2022 season than Bobby Bo will receive from the Mets on Friday.

So Why Does Bonilla Get This Payday?

What's Bobby Bonilla Day? Revealing Why the Former Met Is Paid $1.19 Million on July 1 Every Year!

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 Installments of About $1.2 Million for 25 Years Starting July 1, 2011, Plus a Negotiated 8 Percent Interest. At the Time, Mets Ownership Had Engaged in A Bernie Madoff Account that Promised Double-Digit Returns, and The Mets Were Prepared to Make a Huge Profit if The Madoff Account Delivered — but That Did Not Pan Out.

Under New Owner Steve Cohen, Who Broached the Potential of Honouring Bonilla at Citi Field Annually Immediately After Taking Over the Team, the Mets Are Embracing Bonilla’s Day.

How Unusual Is This Arrangement?

What's Bobby Bonilla Day? Revealing Why the Former Met Is Paid $1.19 Million on July 1 Every Year!

 

Bonilla Last Played for The Mets in 1999 and Last Played in The Majors for The Cardinals in 2001, Although He Will Is Paid Through 2035 (when He’ll Be 72). Here Are Some Additional Famous Deferred-Money Contracts, Courtesy of Espn Stats & Information’s Ryan Milowicki:

Bobby Bonilla (again): A Second Deferred-Contract Deal with The Mets and Orioles Pays Him $500,000 a Year for 25 Years. Those Payments Began in 2004.
Saberhagen: $250,000 a Year for 25 Years (payments Began in 2004). Bonilla: $150,000 a Year for 25 Years (payments Began in 2004).

In Total, the Nationals Will Pay Scherzer $105 Million Over the Course of His Contract, Which Will Run until 2028.

• Manny Ramirez: The Red Sox Will Pay Him $24.2 Million in Total Between Now and 2026. As Part of His Nine-Year, $116 Million Contract Signed in 2000, Ken Griffey Jr. Will Receive $3.59 Million from The Reds Each Year until 2024.

When He Signed a Two-Year Contract Extension with The Rockies in 2010, He Agreed to Defer $13 Million in Salary. He Will Receive $1.3 Million per Year from The Rockies Through 2023 as A Result.

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Compared to The Salary of 2022.

What's Bobby Bonilla Day? Revealing Why the Former Met Is Paid $1.19 Million on July 1 Every Year!

Here Are Some Prominent Players that Will Be Earning Less than Bonilla This Season, Ranked by Their 2022 War Total:

  • Tommy Edman (4.3 War): $722,000
  • It Cost $764 K for Yordan Alvarez (3.7 War)
  • It Cost $764 K to Sign Kyle Tucker (3.7 War).
  • Alejandro Kirk (3.3 War): $714 K
  •  Tony Gonsolin, (3.0 War): $720,000
  •  Alek Manoah: $730 K
  • $ 734 K for Ty France (3.0 War)
  • There Is a $706 K Salary for Andres Gimenez (4.0 War)
  • $700 K for Jeremy Pena (war: 2.9)
  • It Costs $700 K to Sign Julio Rodriguez (2.9 War).
Marissa Figgs
I write picture books, for middle grade, and young adults, some of which have won prizes, been filmed, or become bestsellers. I've ghostwritten for Pixar and developed teen work for Alloy Entertainment. I think heartfelt writing is the finest. It doesn't have to be personal, but it must be visceral. You want them riveted from the first word, page, or sentence, no matter how painful or unpleasant, and that's my expertise.
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