Mets' Bobby Bonilla Day: Madoff and Draft Legacy

July 1 is 'Bobby Bonilla Day,' when retired MLB star Bobby Bonilla receives $1.19 million from the New York Mets as part of a deferred contract agreement. The deal originated in 2000, when the Mets decided to defer Bonilla's $5.9 million buyout and pay him annually from 2011 to 2035 with 8% interest, totaling nearly $30 million. The Mets' then-owner Fred Wilpon's investments with Bernie Madoff influenced the deferral decision, as anticipated returns were expected to exceed the interest owed, but those plans ultimately failed. The money saved in 2000 was used to acquire pitcher Mike Hampton, and his later departure earned the Mets a draft pick used to select David Wright. Bonilla's annual payment often surpasses the salaries of many active players and serves as a cautionary tale about deferred contracts and risky financial planning. The arrangement has become a quirky fan holiday and a symbol of unusual sports business deals.