MLB Star Earns $1.2 Million Annually Despite Two-Decade Hiatus

Baseball fans circle July 1 on their calendars for a tradition that’s part quirky celebration, part cautionary tale: “Bobby Bonilla Day.” Every year, the New York Mets pay retired MLB player Bobby Bonilla nearly $1.2 million, even though he hasn’t played for them since 1999.

This odd payday started with a contract buyout that’s become legendary for its financial twists. Bonilla’s deal will keep these payments coming until 2035, all thanks to a decision that’s still raising eyebrows in baseball circles.

The Deal That Keeps Giving: Bobby Bonilla’s Deferred Compensation

Back in 2000, Bonilla still had $5.9 million left on his Mets contract. The team didn’t want him on the roster anymore, but instead of a lump-sum buyout, they chose to stretch payments across 25 years starting in 2011.

With 8 percent interest tacked on, Bonilla’s annual check ballooned to nearly $1.2 million. By 2035, he’ll have collected a total of $29.8 million from this arrangement.

Why Did the Mets Take This Route?

Fred Wilpon, the Mets’ former owner, felt confident about the team’s finances because of investments linked to Bernie Madoff. He figured deferring Bonilla’s payments would let the team invest that money for better returns.

But when Madoff’s Ponzi scheme collapsed, the plan fell apart and cost the Mets millions. Now Bonilla’s deal serves as a yearly reminder of how wrong things can go.

Deferred Payments: A Trend in MLB

Bonilla’s deal stands out for its size and length, but deferred compensation is actually pretty common in Major League Baseball. Teams use these contracts to manage payroll and cash flow, spreading out payments instead of handing over huge sums all at once.

Big names like Shohei Ohtani and Max Scherzer have also jumped on the deferred payment train.

Shohei Ohtani’s Long-Term Payout Strategy

Shohei Ohtani, for example, set up a contract with the Los Angeles Dodgers that pays him $2 million a year from 2034 through 2043. The numbers aren’t as eye-popping as Bonilla’s, but it’s still a smart way to lock in post-retirement income.

Max Scherzer’s Deferred Cash

Max Scherzer has a similar setup. His contract demonstrates how both players and teams use deferred payments to balance big deals with financial flexibility.

The Benefits and Risks of Deferred Compensation

Deferred contracts can work out well for both sides, but they’re not without risk. For players, it’s a safety net—a steady income after their careers end, almost like a private pension.

Teams get some breathing room on their budgets, but they’re also betting on long-term stability. If investments sour or finances take a hit, the whole thing can backfire.

Bonilla’s Legacy: More Than a Financial Tale

Bobby Bonilla’s annual windfall has become more than just a quirky headline. It’s a story about sports, money, and the unpredictable ways those worlds collide.

Why “Bobby Bonilla Day” Resonates Year After Year

Over two decades have passed since Bonilla retired. His deferred compensation deal still stands out as a creative twist in sports contracts.

Baseball fans and finance buffs can’t help but marvel at how one decision turned into millions for a player who hasn’t played for the Mets in over 20 years.

Some call it genius, others shake their heads, but Bobby Bonilla’s deal is an unforgettable piece of sports history. Every July 1, “Bobby Bonilla Day” stirs up new debates about money, retirement, and the quirky side of baseball culture.

 
Here is the source article for this story: This MLB Star Hasn’t Played for 2 Decades but Makes $1.2 Million a Year. The Mets Have Bernie Madoff to Blame