All articles tagged with #bobby bonilla
Bobby Bonilla, a former Mets player, receives $1.19 million every July 1 until 2035 due to a deferred payment deal made in 1999, which has become a celebrated event among Mets fans known as 'Bobby Bonilla Day.' The deal, originally linked to Bonilla's departure from the team, is notable for its long-term payments and the team's embrace of the annual occasion.
Bobby Bonilla Day marks the 15th year of the Mets paying him $1.19 million annually due to a deferred contract deal from his playing days, a quirky and famous arrangement in sports history that continues to generate fan interest and jokes.
The article highlights Bobby Bonilla's presence at a USF orientation amidst the buzz of 'Bobby Bonilla Day,' despite being the 16th-highest-paid player on the Mets' 2025 payroll, and how he remains unnoticed in everyday settings.
Bobby Bonilla receives an annual $1.2 million payout from the New York Mets due to a deferred payment deal made in 1999, which has turned into a lucrative long-term arrangement, and also earns from the Baltimore Orioles until 2028.
Every July 1 until 2035, Bobby Bonilla receives over $1.19 million from the Mets due to a deferred payment agreement made in 2000, highlighting MLB's unique salary structures and deferred payment practices, with Bonilla's deal being one of the most notable examples.
Bobby Bonilla, who hasn't played in MLB for over 20 years, continues to receive nearly $1.2 million annually from the New York Mets until 2035 due to a deferred payment deal linked to the Mets' previous investment in Bernie Madoff's Ponzi scheme, highlighting a long-standing practice of deferred sports contracts.
Shohei Ohtani has signed a historic 10-year, $700 million contract with the Los Angeles Dodgers, with over 97% of the amount deferred until after the contract expires in 2033. This means Ohtani will be making just $2 million per year during the contract period. Other notable deferred contracts in MLB history include Ken Griffey Jr., Chris Davis, Max Scherzer, Stephen Strasburg, and Bobby Bonilla, with the latter receiving annual payments until 2035.
Former New York Mets general manager Steve Phillips jokingly expressed relief over the Los Angeles Dodgers' decision to give all deferred compensation to Shohei Ohtani, as it takes him off the hook for the infamous Bobby Bonilla Day. Phillips had agreed to a buyout with Bonilla during his time with the Mets, guaranteeing the player almost $1.2 million annually until 2035. While deferred money is not uncommon in MLB contracts, Bonilla's case stands out due to his limited appearances for the Mets in 1999. Ohtani's contract includes unprecedented deferrals, which he proposed to ease the Dodgers' financial burdens and enhance their competitiveness.
Former New York Mets outfielder Bobby Bonilla receives a check for nearly $1.2 million every July 1 as part of a deferred payment agreement negotiated by his agent in 1999. The deal, which was meant to help the cash-strapped Mets, will continue until 2035, with Bonilla ultimately receiving $29.8 million. The contract has become a symbol of the team's financial blunder and is celebrated by fans as "Bobby Bonilla Day."
Former baseball player Bobby Bonilla continues to receive an annual paycheck of $1.2 million from the New York Mets, despite not playing for over two decades. This arrangement was part of a contract negotiated by Bonilla's agent, Dennis Gilbert, and was made possible due to the Mets' owner, Fred Wilpon, falling victim to Bernie Madoff's Ponzi scheme. Instead of paying Bonilla outright, Wilpon deferred payments, which were then invested in Madoff's scheme. Bonilla will receive payments until 2035, totaling $29.8 million.
On July 1st, Bobby Bonilla Day, the New York Mets will pay 59-year-old Bobby Bonilla $1,193,248.20, as they have been doing every year since 2011 and will continue to do so until 2035. This deferred payment arrangement was made in 2000 when the Mets bought out the remaining $5.9 million on Bonilla's contract. The Mets agreed to make annual payments of nearly $1.2 million for 25 years, including 8% interest. Other notable players, such as Bret Saberhagen, Max Scherzer, Manny Ramírez, Ken Griffey Jr., and Todd Helton, also have deferred-money contracts. Some current players in MLB will earn less than Bonilla's annual payment this season.
On July 1, the New York Mets continue to pay former MLB All-Star Bobby Bonilla over $1.19 million as part of a deferred salary arrangement that will last until 2035. The Mets signed Bonilla to a five-year contract in 1991, but after being traded away, they released him in 2000. Believing they would profit from investments with Bernie Madoff, the Mets agreed to defer Bonilla's salary with 8% interest. However, Madoff's Ponzi scheme collapsed, causing Bonilla's $5.9 million salary to swell to $29.8 million. Bonilla's deferred salary with the Mets is the most famous July 1 payment in baseball, and he also has a second deferred salary agreement with the Baltimore Orioles. Other notable deferred salary plans include Ken Griffey Jr., Manny Ramirez, Matt Holliday, Chris Davis, Bret Saberhagen, Rafael Devers, Rafael Soriano, Max Scherzer, and Stephen Strasburg.