Nationwide — Former MLB participant Bobby Bonilla, who hasn’t performed skilled baseball since 2001, nonetheless will get a verify yearly for practically $1.2 million. The New York Mets have been paying him this annual quantity since 2011 and can proceed doing so till 2035. The bizarre payout each July 1st is now famously often called “Bobby Bonilla Day.”
Bonilla joined the Mets in 1991, signing a five-year, $29 million contract — the best in workforce sports activities on the time. After a couple of workforce modifications and a World Sequence win with the Florida Marlins in 1997, he returned to the Mets in 1999. The reunion didn’t final lengthy. Bonilla struggled with accidents and efficiency, and the Mets launched him in 2000. He nonetheless had two years left on his contract, value $5.9 million.
As a substitute of taking the cash instantly, Bonilla agreed to a deferred fee plan. The Mets provided to pay him later, with 8 % curiosity. That $5.9 million ballooned to just about $30 million by 2011.
To handle the payout, the Mets arrange a 25-year plan. Every July 1, Bonilla receives a verify for about $1.2 million. His remaining fee will arrive in 2035, when he turns 72.
Bonilla earned $47 million throughout his profession. Because of the deal, he’s made virtually $30 million extra — with out enjoying a single sport.
A six-time All-Star, Bonilla ended his profession with a .279 batting common, 287 residence runs, and 1,173 RBIs.
“Folks say, ‘Oh, that’s Bobby Bo,’” Bonilla advised Native 12 Information. “Oh my goodness. He’s a part of one of many best contracts in sports activities. I really like what he did.’ And that form of brings a smile to my face.”