It might appear strange to you, but Bobby Bonilla Day is celebrated to commemorate one of the strangest deals in Major League Baseball. This historical deal is celebrated on the first day of July every year. Bobby Bonilla is a popular baseball player who played his last match in 2001. He’s been a six-time All-Star in Major League Baseball for his outstanding performance in the game. A fact check is that, even after leaving the game, he gets a check worth $1.19 million every year from the New York Mets. This pattern has been followed since 2011, as the association owed him $5.9 million for 25 years of his career.
The New York Mets were planning to drop Bonilla after the 1999 season in Major League Baseball. However, they decided to complete his payment in installments, starting from 2011 and ending in 2035. During this interval, Bonilla will be paid $1,193,248.20 every year on 1 July, inclusive of an 8% interest on the installments. Thus, the overall amount of payment between 2011 and 2035 will be approximately $30 million, which is jaw-dropping. Bobby Bonilla has observed over the years that Bobby Bonilla Day is celebrated more joyously than his birthday.
Contract Deferrals in Baseball
Contract deferrals are one of the few things that keep the players in the sports till the end. During Bobby Bonilla’s time, contract deferrals were not much of a deal. They were quite common; however, they have been deployed in the past 25 years since Bonilla left the game. Anyway, getting such a hefty amount until he turns 72 years old is crazy and is one of the major attractions of baseball. Bonilla’s former agent has also expressed his insight on the deferred contracts. He talks about how there might be many more deferred contracts to go, but being paid until you cross the 70s is something that you won’t witness again.
When will Bobby Bonilla Day end?
As mentioned above, Bobby Bonilla will get his last transaction in 2035, when he will be in his 70s. Bobby Bonilla Day will always be an iconic day in the history of Major League Baseball and for his fans. He has been a constant player with extensive achievements and skills on the field. The New York Mets were sold to Steve Cohen, the new owner of the team, who is funding them. The new owner has jokingly mentioned Bobby Bonilla Day celebration several times on the field, showing how Bonilla’s presence in the team is always appreciated.
Bobby Bonilla Day: Contract
Bonilla played for the Marlins for four years, as the contract demanded. In these four years, he earned about $23.3 million through the contract. In 1997, he was the biggest contributor to the victory in their first World Series. However, in 1998, he was traded to the Dodgers as the baseball club was having its sale (not of products but players). In the next season, Bonilla was traded to the Mets, as they needed a right fielder, and he signed a two-year contract with them. The pay of the contract was $11.65 million, which was almost half of the four-year contract with the Marlins.
Bobby Bonilla faced a lot of backlash during his 1999 season, and the Mets released him just after the season. However, they owed him $5.9 million, which they turned into a deferred contract with 8% interest, beginning from 2011. The Bobby Bonilla Day still fascinates some people because the player left the sports a long time ago, but is still receiving a yearly income of millions.
Conclusion
Bobby Bonilla has made major contributions to the Major League Baseball seasons, but wasn’t valued enough. After the four-year contract with the Marlins, he was never stable in the rest two baseball clubs. However, the deferral contract by the Mets is still active and will continue till 2035, until the final transaction is completed.
