Happy Bobby Bonilla Day! Why The Mets Pay Him $1.19-Million Every July 1

If you think you can't wait for July when the summer really gets going then imagine being Bobby Bonilla.

Because he is the eternal boy of summer.

What else would your call a former baseball player who is still currently getting paid for a game he hasn’t played in nearly two decades.

That’s is why July First has come to be called Bobby Bonilla day. It’s the day each year that the 56-year-old receives a check for $1,193,248.20 from the New York Mets. He will continue to receive checks through 2035.

That’s because back in 2000, the Mets agreed to buy out the remaining $5.9-million on Bonilla's contract.

But instead of paying Bonilla the $5.9-million at the time, the Mets agreed to make annual payments of nearly $1.2-million for 25 years starting July 1, 2011, including a negotiated 8% interest.

At the time, Mets ownership was involved with a Bernie Madoff account that promised double-digit returns over the course of the deal, and the Mets were poised to make a significant profit if the Madoff account delivered. It did not.

The Mets will be paying Bonilla more this season than they will pay Pete Alonso and Jeff McNeil combined.

And Mets fans continue to pay dearly.

Source: ESPN

Photo Credit: Getty Images

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