Every July 1, known as 'Bobby Bonilla Day,' former MLB player Bobby Bonilla receives over $1 million annually from the New York Mets as part of a deferred payment deal lasting until 2035. This unique arrangement, initiated in 1999, allowed the Mets to free up salary cap space while committing to long-term payments for Bonilla, who continues to be paid well after his retirement. Similar deferred payment structures exist for other former MLB players like Ken Griffey Jr., Chris Davis, Max Scherzer, and Ichiro Suzuki, showcasing a trend in the sports industry. Bobby Bonilla Day has become a celebrated event, illustrating the complexities and financial implications of sports contracts, with fans and social media engaging in discussions and humor around this unusual arrangement.