Former MLB Player Bobby Bonilla Receives $1.19M Annually Until 2035

Bobby Bonilla Day, observed annually on July 1, marks the unique deferred-payment contract where former Major League Baseball player Bobby Bonilla receives approximately $1.19 million from the New York Mets each year until 2035, despite retiring over two decades ago. This arrangement originated from a decision to defer a $5.9 million payout with 8 percent interest, a strategy that was initially seen as financially advantageous but faltered after the Bernie Madoff investment collapse. In total, Bonilla is set to receive nearly $30 million from the Mets by the end of the contract, with an additional $500,000 annually from the Baltimore Orioles until 2028 due to another deferred deal, culminating in over $42 million since his retirement. Bonilla, who enjoyed a successful 16-year career including six All-Star appearances and a World Series win, views the annual payment as a testament to his prudent financial planning, emphasizing his modest lifestyle during his playing days. While Bonilla's deal has become a popular meme and financial curiosity, other players like Chris Davis have even larger deferred contracts. The day has grown into a notable sports tradition, celebrated both for its peculiarity and as a reminder of the long-term financial strategies athletes sometimes employ.