When the calendar turns to July, it is once again that time of year to celebrate Bobby Bonilla Day.
On July 1, Bonilla will again be paid $1,193,248.20 by the New York Mets as part of his buyout deal.
Bonilla retired over 20 years ago.
However, he still gets an annual paycheck through 2035.
Bonilla, 60, has the ultimate retirement package.
Hats off to his agent or whoever negotiated this deal with the Mets commemorated each year as Happy Bobby Bonilla Day.
Happy Bobby Bonilla Day!
Every July 1st from 2011 to 2035, the New York Mets pay Bonilla — who retired 20 years ago — $1,193,248.20 as a part of his buyout deal.
Only 12 years and $13.1 million to go! pic.twitter.com/y5wiyXJu41
— Front Office Sports (@FOS) July 1, 2023
Bobby Bonilla’s Sweet Deal
The $6 million buyout deal was negotiated on a deferred basis over a 25-year period from 2011 to 2035 with 8% interest tacked on.
It is valued at $29.8 million.
Bobby Bonilla and his agent pulled off the biggest finesse in 1999 when he negotiated a $6 million buyout into deferred payments starting in 2011 at 8% interest. In total, Bobby will make $29.8 Million from the Mets. pic.twitter.com/zEgWamGX56
— Fanatics View (@fanaticsview) July 1, 2020
Though deferred payments are not uncommon and Ken Griffey Jr. has a similar deal that was negotiated to keep him financially sound in retirement, it is Bonilla and the New York Mets who grab annual headlines with this deal.
Meanwhile, Ken Griffey Jr. has been getting $3.5M a year from the Reds since 2011. When those deferred payments finish next year, he will have made $53.5M from the Reds AFTER his career was finished. https://t.co/R0x7J9UycW
— Brian Cunniff (@CMCSports) July 1, 2023
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