Bobby Bonilla Day: Why the Mets still pay him every July 1
What is Bobby Bonilla Day?
July 1 every year through 2035 is known as Bobby Bonilla Day to Mets fans. Why? Because the retired star is still on the Mets payroll.
NEW YORK CITY - July 1 is likely a happy day in the life of retired baseball star Bobby Bonilla and perhaps a frustrating one for the New York Mets payroll department. That is because every year on this date, the Mets pay Bonilla more than $1 million for a season he never actually played in Flushing.
What is Bobby Bonilla Day?
The backstory:
In Bonilla's final stint with the Mets in 1999, he hit .160 with 4 home runs and 18 RBIs over 60 games. So rather than bring the aging slugger back for the 2000 season, for which he was to be paid $5.9 million, Mets management agreed to buy out his contract.
Bobby Bonilla #25 of the New York Mets looks on during the game against the Montreal Expos at the Shea Stadium in Flushing, New York.
But the terms of the buyout are kind of hilarious – New York wanted to defer payments to Bonilla for a decade.
When does Bobby Bonilla Day end?
So the team offered to pay Bonilla an installment every year starting on July 1, 2011, and ending on July 1, 2035. With a negotiated 8% interest rate, the annual check comes to about $1.19 million. That means Bobby will rake in nearly $30 million instead of the original nearly $6 mil.
When is Bobby Bonilla Day?
And thus July 1 became known as Bobby Bonilla Day among fans, who have mocked the deal for decades. But in the social media era, the annual event has reached a higher level of nuttiness.
Why does Bobby Bonilla still get paid?
Why would the Mets agree to something so absurd? Two words: Bernie Madoff. At the time of the deal, the team and ownership were invested with the Ponzi schemer and expected huge returns on their money.
25 Jul 1993: Infielder Bobby Bonilla of the New York Mets in action during a game against the Los Angeles Dodgers at Dodger Stadium in Los Angeles, California. (Mandatory Credit: Stephen Dunn /Allsport)
Well, we all know what happened.
Bobby Bonilla age, contract end
Bonilla, who last played in the majors in 2001, was always entertaining to watch on the field and in the batter's box. Now 62, Bonilla will keep cashing those Mets checks until he is 72, ensuring that the Mets and their fans never forget him.
Bobby Bonilla stats
In his 16-year career, Bonilla also played for the Pittsburgh Pirates, the Baltimore Orioles, the Florida Marlins (with whom he won a World Series), the Atlanta Braves, the St. Louis Cardinals, the Los Angeles Dodgers, and the Chicago White Sox. He hit .279 and amassed 2,010 hits, 287 home runs, 1,173 RBI, and 1,084 runs, according to Baseball-Reference.com.