All articles tagged with #deferred payment
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.
MLB superstar Shohei Ohtani has signed a record-setting $700 million contract with the Los Angeles Dodgers, deferring over 97% of the amount until after the 10-year term. Ohtani will defer $68 million of his $70 million annual salary, with the remaining $680 million to be paid starting in 2033. The decision to defer most of his salary came from Ohtani himself, who wanted to prioritize winning and being a team player. The Dodgers will benefit from having more money available to surround Ohtani with top players and avoiding his full salary contributing to MLB's luxury tax threshold.
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."