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Baseball fans, it is Bobby Bonilla Day. Observed every year on July 1, it is one of the most-talked-about Major League Baseball (MLB) traditions. Named after six-time All-Star player Bonilla, the holiday marks one of the most bizarre deals in baseball history.
Bonilla, who played his last professional game in 2001, receives $1.19 million annually from the New York Mets on July 1. Why? Because of a deal made by the 62-year-old’s agent, Dennis Gilbert, reported CNN.
As per the deal, which is a part of a contract negotiated by Gilbert, Bonilla will receive $1,193,248.20 every year through 2035. The MLB star, who last played with the Mets in 1999, will be 72 by the time his contract with the team expires.
Why will New York Mets pay Bonilla until 2035?
In 1999, the Mets reportedly wanted to release the then-36-year-old Bonilla, who had underperformed and clashed with team management. Rather than pay the $5.9 million remaining on his contract outright, they agreed to defer it with eight per cent interest: a decision that still haunts (and entertains) fans.
Now, instead of a single lump sum, Bonilla receives $1,193,248.20 annually on July 1. So far, a total of 25 payments, which began in 2011, have been made. Bonilla earlier told USA Today that the day has become bigger than his birthday, with him receiving texts all day long. He added that the windfall of texts continues for a couple of days. “Everybody just seems to love that day,” Bonilla told the outlet.
How did it all begin?
Bonilla’s career spanned 16 seasons from 1986 to 2001, with stints at the Pirates, Mets, Marlins, Orioles, and more. According to the report, his peak years were with Pittsburgh, where he averaged 23 home runs and 97 RBIs annually from 1987 to 1991.
Bonilla was traded to the Dodgers after he helped the Marlins win the World Series in 1997. He later joined the Mets in 1999, but things quickly soured. After a poor season, the Mets decided to part ways, but in their unique way. Reportedly, they worked with Bonilla’s agent, Dennis Gilbert, to craft a deferred payment deal which has now become legendary.
A deal for the ages
Gilbert, according to the USA Today report, had earlier said other players might have deferred contracts, but the sporting world will never see a person being paid into their 70s again. “That’s why Bobby Bonilla Day should be celebrated,” Gilbert was quoted as saying.
Mets owner Steve Cohen also joked about throwing a Bobby Bonilla Day celebration at Citi Field with flair and an oversized check.
Bonilla’s quirky payday has become even more relevant with Shohei Ohtani’s historic $700 million Dodgers deal which included a $680 million in deferrals, proof that the concept lives on but not on the same scale.
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FAQs:
Q: What is Bobby Bonilla Day?
A: July 1 is the day every year when Bobby Bonilla receives a $1.19 million payment from the New York Mets due to a deferred contract agreement from 1999.
Q: Why do the Mets pay Bonilla so much?
A: The Mets chose to defer a $5.9 million payment with 8% interest, resulting in annual payments from 2011 to 2035 totalling nearly $30 million.
Q: When will Bobby Bonilla Day end?
A: The final payment is scheduled for 2035, when Bonilla will be 72 years old.
Q: How good was Bobby Bonilla?
A: He played 2,113 games, hit 287 home runs, and was a six-time All-Star and three-time Silver Slugger winner.
Q: Is Bonilla’s deal the only one like it?
A: While deferred contracts are common in MLB, none have captured public imagination like Bonilla’s, making it a truly one-of-a-kind story in sports history.
