On every 1st of July, there is always a Bobby Bonilla day. It’s time for Mets fans to wish each other happy Bobby Bonilla day. incase you don’t know, Bobby will be given a sum of $1.2m from the new York Mets. he has always and will always be given $1.2m every July 1 from 2011 through 2035.
Bonilla annual payday is often more than some of the game’s current stars in a year. Apart from young players their career earning half of Bonilla’s annual $1.2m here are some notable players who will be making less than what Bonilla is making. this is strict because the season is only 60 games in 2020 because of salaries that are prorated
Why is Bobby Bonilla paid $1.19 million
In 2000, the Mets agreed to buy out Bonilla’s remaining contract of $5.9 million contracts. However, instead of paying Bonilla the $5.9 million, the Mets agreed to make annual payments of $1.2 million. It will last for 25 years starting July 1, 2011, including an 8% interest.
Bonilla has last played in the major league for Mets since 1999 after he left two years later. But he has regained fame during the past decade. For the infamous deferred payments, he rakes every 1st of July as part of the agreement he had negotiated with Mets. when they bought his contract remain for $5.9 million.
At that time when the two sides had a deal, they thought it will be mutually beneficial. Bonilla will defer the money for a decade in exchange for 8% interest and yearly payment for over 25 years. However, New York planned to make an investment with the money that was to produce massive returns. The Mets have only one problem. That is, the guy who is in charge of the investments was Fred Wilpon’s pal Bernie Madoff. He ran the biggest Ponzi scheme in history and ruin the lives of many people.
While Bobby may be remembered for the yearly payments among modern baseball fans, his career as an important context. He came down four straight all-star seasons and he came for the top three MVP two times with the Pittsburgh Pirates. The Bronx native became the highest-paid player in a team sport when he signed $29.1 million deal with Mets that lasted for 5 years
Bonilla who had won the silver slugger award three times spent two seasons with the Atalanta Braves and st. Louis cardinal before he retired with 279 hitters with 2010 hits and 287 homers. At 48 Bonilla started receiving the payment and he will continue collecting it until he is 72 years old.