The $1.19 Million Question: Why the Mets Continue Paying Bobby Bonilla Every Year

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Every year on July 1st, the New York Mets pay Bobby Bonilla $1.19 million, even though he hasn't played for them in 25 years. This date has come to be known as "Bobby Bonilla Day."

Bonilla is a former third baseman and outfielder who had a successful baseball career, but why does he still get paid by the Mets? To understand this, we need to look back at a contract deal made in 2000.

This unusual agreement led Bonilla to receive annual payments long after his retirement. Let's dive into the details to see how this came about and why the Mets continue to cut him a check every year.

Who is Bonny Bonilla?

Bobby Bonilla, a talented player in Major League Baseball, had a career that spanned 16 seasons. He started with the Chicago White Sox in 1986 but found his greatest success with the Pittsburgh Pirates from 1986 to 1991. It was during this period that he made four All-Star teams and finished in the top three for the National League MVP award twice. One of his standout seasons was in 1990, when he hit .280 with 32 home runs and 120 RBIs.

In 1991, the New York Mets signed him to a five-year contract worth $29 million, which was the biggest contract in the team's history at that time. Bonilla continued to perform well, earning two more All-Star selections with the Mets. In 1994, he hit 34 home runs and had 87 RBIs, showcasing his skill at the plate.

After his time with the Mets, Bonilla moved to several other teams, including the Baltimore Orioles, where he was traded in 1995. He also won a World Series with the Florida Marlins in 1997 and had a brief return to the Mets in 1999. Despite retiring, Bonilla's contract and resulting payments continue to keep him in the spotlight.

Why Do the Mets Pay Bobby Bonilla Annually?

In 1999, when Bobby Bonilla returned to the Mets, the team decided to defer the payment of the $5.9 million they owed him. Instead of paying him immediately, they would pay him 8 percent interest over 25 years, starting from 2011 to 2035.

This deal was made because the Mets' owner at the time, Fred Wilpon, was confident that profits from investments with Bernie Madoff would cover these costs.

Unfortunately, the Mets' funds were trapped in Madoff's Ponzi scheme, which caused the $5.9 million to balloon to $29.8 million. This is why Bobby Bonilla receives $1.19 million from the Mets every July 1st.

Despite the financial setbacks, fans still look up the New York Mets odds on FanDuel Sportsbook each year, curious about the team's performance.

Which MLB Players Have Deferred Payments?

Bobby Bonilla’s deferred-money contract is quite famous, but he's not the only player with this type of deal. One of the most recent examples is Shohei Ohtani. In a record-breaking contract worth $700 million with the Dodgers, Ohtani agreed to defer 97 percent of the total amount. He will only receive $2 million annually until 2034, and the remaining $680 million will be paid out between 2034 and 2043. This structured payment gives the Dodgers more financial flexibility to strengthen their team right now, like signing top talent such as pitcher Yoshinobu Yamamoto, who has joined the Dodgers with a 12-year, $325 million contract.

Other notable deferred contracts include Freddie Freeman's deal with the Dodgers, which will pay $57 million over time. The Washington Nationals still owe Max Scherzer $15 million annually through 2028, and Stephen Strasburg will receive $26.6 million from 2027 to 2029. Additionally, Francisco Lindor of the New York Mets has deferred a portion of his contract, with $5 million to be paid out between 2032 and 2041.

These deferred payments seem like a lot, but they help teams manage their budgets and invest in new players when needed. This strategy allows teams to stay competitive in the short term while spreading their financial obligations over many years.

The Takeaway

Bobby Bonilla's contract is a unique example of financial planning in sports. Deferred payments allow teams to manage their budgets effectively while securing star players. Though it may seem odd, this strategy helps teams remain competitive over time.

As a result, Bobby Bonilla Day continues to be a fascinating reminder of how creative financial deals can shape the world of professional sports every July 1st.