Shame on us.
doubledragon
Posts: 23,269 ✭✭✭✭✭
I'm just ashamed that we forgot about one of the most important holidays of the year. Today is July 1st - Bobby Bonilla Day!
Every July 1st, Bobby Bonilla recieves a $1.19 million dollar check from the New York Mets until the year 2035. If your more interested in this wonderful holiday, here is a link explaining it.
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Just so happy to be a part of this wonderful holiday tradition.
Happy Bobby Bonilla Day everyone!
Every so often I hear about this and just shake my head...
I wonder when Randy Johnson Day is and if the Diamondbacks are still paying him too?
Felicidades!! Sounds like a good gig!
pffft that's nothing.
My VA disability check is $147 a month. That's right a month, not a year.
The funny thing is, Bonilla got the deferred commitment due to how much interest money the Mets were making on the capital. Oops, the money was invested in Madoff's ponzi scheme: https://www.azcentral.com/story/sports/mlb/diamondbacks/2014/08/16/teams-defer-salaries-win-now-pay-later-diamondbacks/14153379/
I've still never been able to find the Randy Johnson deferral details, but know it was mentioned around town that he was still collecting 2001 money when he returned in 2007-2008.
Almost breathtaking!
Bobby Bonilla - New York Mets - 25 Years/$29 Million
via nesn.com
He was never a superstar who put up big caliber numbers. It was in fact the mistake of Mets team ownership which has forced them to pay the outfielder $1.19 million a year through 2035.
After the 1999 season, Bonilla was still owed nearly $6 million by the Mets. He and his agent made an agreement with Mets owner Fred Wilpon. Bonilla wouldn't take salary for a decade and in 2011 would be paid nearly $30 million over a span of 25 years.
Wilpon agreed to the deal because in 1999 instead of paying Bonilla, he had invested a large sum of the organization's money with Bernie Madoff, who ended up running a massive ponzi scheme.
It’s unbelievable that he has this deal but good for him, pretty smart
Just saw from the other thread, it gets even sweeter for Bonilla:
Bobby Bonilla also gets a second deferred payment of $500k every year that is split evenly between the Baltimore Orioles and New York Mets
It sounds crazy but deferred payments to retired players are not uncommon.
The Braves are still paying Bruce Sutter 1.2 million a year every year through 2021 with a balloon payment of 9.1 million due at conclusion and he hasn't pitched for them since 1985.
The Reds are still paying nearly 4 million a year to Griffey through 2024.
Bonilla gets all the press but lots of teams have retired players still on payroll.
Also, without that deal David Wright never puts on a Mets uniform and they don't win the NL pennant in 2000.
https://bustedcoverage.com/2018/07/01/someone-listed-all-of-the-future-mlb-deferred-payments-in-honor-bobby-bonilla-day/
Collecting 1970s Topps baseball wax, rack and cello packs, as well as PCGS graded Half Cents, Large Cents, Two Cent pieces and Three Cent Silver pieces.
I've heard about Bonilla's deal for many years now, but had no clue about the Madoff connection. That is hilarious! The Bruce Sutter deal is pretty sweet too.
I remember when he was on the Pirates team with Barry Bonds. He was the “little free agent” while Bonds was the big fish. His deal is better than winning the Publishers Clearing House Sweepstakes. I am sure that Some genius with the Mets thought he had made a great deal because Madoff got such “great results” in the financial markets.