Bobby Bonilla Day: Why does New York Mets star Bobby Bonilla gets $1.2 million on July 1?

On the first day of July each year since 2011, Bobby Bonilla, a former New York Mets star who retired in 2001, receives a check worth $1,193,248.20 from the Mets. This arrangement will continue until 2035 when Bonilla turns 72. The ongoing payments stem from a deferred contract buyout agreement made between Bonilla and the team in 2000, ensuring he receives a significant sum for a period of 25 years.

In a unique arrangement, the New York Mets decided to buy out Bobby Bonilla's remaining contract of $5.9 million. However, due to the team's financial situation tied to Bernie Madoff's Ponzi scheme, they agreed to make deferred payments to Bonilla. This agreement entails annual payments of approximately $1.2 million for 25 years, starting from July 1, 2011, until July 1, 2035. As a result, each year on July 1, sports fans celebrate this unusual contract, dubbing it Bobby Bonilla Day.

Despite being retired for over 20 years, Bobby Bonilla's yearly payment of $1.2 million from the Mets surpasses the earnings of several current MLB superstars.


According to Spotrac, several MLB players earn less than Bonilla this year. For instance, Miami Marlins outfielder Jazz Chisholm has a salary of $749,500 in 2023, Tampa Bay Rays pitcher Shane McClanahan earns $737,000, Baltimore Orioles catcher Adley Rutschman receives $733,900, Atlanta Braves pitcher Spencer Strider makes $1 million, Seattle Mariners pitcher Logan Gilbert earns $767,300, and Cleveland Guardians pitcher Triston McKenzie's salary is $739,500.

FAQs:

1. Which MLB players are earning less than Bobby Bonilla?
   According to Spotrac, several MLB players earn less than Bonilla this year. For instance, Miami Marlins outfielder Jazz Chisholm has a salary of $749,500 in 2023, Tampa Bay Rays pitcher Shane McClanahan earns $737,000, Baltimore Orioles catcher Adley Rutschman receives $733,900, Atlanta Braves pitcher Spencer Strider makes $1 million, Seattle Mariners pitcher Logan Gilbert earns $767,300, and Cleveland Guardians pitcher Triston McKenzie's salary is $739,500.
2. Who is Bobby Bonilla?
   Bonilla, hailing from The Bronx, New York, was a prominent MLB player during the late 1980s and early 1990s. He was known for his exceptional batting skills and was a key member of the successful Pittsburgh Pirates organization during that period.