It’s finally July 1st, which marks Bonny Bonilla Day, an annual celebration of the strangest deal in MLB history.
On July 1st, Mets fans wherever they are wish each other a Happy Bobby Bonilla Day!
Let’s find out all the buzz about Bonilla Day.
What is Bonilla Day?
Bonilla, a six-time All-Star who appeared in his farewell game in 2001, has been paid $1.19 million each year by the New York Mets since 2011.
That’s because 25 years down the memory lane, a decision was made to defer the $5.9 million owed to him.
On Wednesday, July 1, 63-year-old Bobby Bonilla will receive a payout of $1,193,248.20 from the Mets since 2011.
But don’t be surprised; The Mets aren’t the only franchise to hand out deferred payments to star players long after they quit playing for the team.
Others such as MVPs and Cy Young winners are some of the recognized names who get annual paychecks from their former franchises.
Bonilla, who hung up his boots in 2001, appeared in 60 regular season games for the Mets in 1999 at age 36 at the time.
What is the Bonilla Day contract?
Bonilla signed a four-year, $23.3 million contract with the Marlins before the 1997 season.
He played a key role in lifting the first World Series that year for the Mets.
But the very next year he was traded to the Dodgers during the club’s infamous roster dump.
Before the 1999 campaign, the Dodgers traded Bonilla to the Mets, who at the time were searching for a new right fielder.
They signed Bonilla to a two-year, $11.65 million contract.
The Mets released Bonilla after the 1999 season, but still owed him $5.9 million for 2000.
The Mets decided to defer their outstanding dues of $5.9 million – with 8% interest – paying out $1,193,248.20 per year on July 1 from 2011 to 2035, which equates to about $30 million.
When will Bobby Bonilla Day finally be over?
The Mets’ last “Bobby Bonilla Day” deferral payment scheme expires in 2035, when the six-time All-Star turns 72.
