As the calendar flips to July 1, New York Mets fans worldwide mark a unique and ongoing tradition: celebrating Bobby Bonilla Day.
On this date each year, the 61-year-old former MLB player Bobby Bonilla receives a paycheck of $1,193,248.20 from the Mets, a practice set to continue annually from 2011 through 2035, News.Az reports, citing foreign sources.
This unusual arrangement stems from a deferred contract agreement made back in 2000. At that time, the Mets owed Bonilla $5.9 million, but rather than paying it all at once, they agreed to spread out the payments over 25 years. The deal includes an 8% annual interest rate, resulting in these hefty yearly checks that often eclipse the salaries of many current young MLB stars.
The Mets are not alone in using deferred payment structures. Other teams, including the Los Angeles Dodgers, have increasingly employed this approach in recent years. Notably, Dodgers superstar Shohei Ohtani’s $700 million contract includes $680 million in deferred payments, with annual installments of $68 million scheduled to begin in 2034.
Originally, the Mets’ decision was influenced by their investment in a Bernie Madoff scheme promising high returns, a gamble that ultimately did not pay off. Despite this, the deferred payment deal has become a cultural touchstone for Mets fans.
Under new Mets ownership led by Steve Cohen, Bobby Bonilla Day has gained renewed attention. Cohen has even hinted at celebrating the day annually at Citi Field, embracing the quirky tradition as a unique part of Mets lore.
As Bobby Bonilla continues to collect his annual payday, fans everywhere will once again share a smile on July 1 — a day when the past and present of baseball’s complex salary structures intersect in a fascinating way.
