CNN|2 minute read
Bobby Bonilla: The $1.2 Million Annual Payment That Keeps on Giving
Every July 1, Bobby Bonilla, who hasn't played in MLB for over two decades, pockets a cool $1.2 million thanks to an infamous contract with the New York Mets. This bizarre deal, which stretches until 2035, has turned Bonilla Day into an annual celebration among baseball fans.
The Mets' decision to defer payments has sparked conversations about financial strategy in sports, making Bonilla a symbol of unconventional payday practices.
From his unique contract to how fans celebrate his day, Bonilla's story highlights the quirks of professional sports and the value of long-term planning.
Here's the full scoop.
Full Story
Bobby Bonilla: The Legend of July 1
Every baseball fan knows the date: July 1. It's not just another day on the calendar; it’s Bobby Bonilla Day. Yes, you heard that right. This is the day where every year, the former MLB player Bobby Bonilla receives a staggering $1.2 million from the New York Mets, and he hasn't stepped onto a major league field in over 20 years. Talk about a sweet deal!
The Infamous Contract
In the late 1990s, the Mets decided to defer Bonilla's payments after they released him. Instead of coughing up his remaining salary upfront, the Mets opted for a long-term payout plan that would see Bonilla receiving payments until 2035. Why? Because they believed that investing that money elsewhere would yield better returns. Spoiler: they were wrong, and it turned into one of the most ridiculous contracts in sports history.
Financial Strategy or Just Plain Nuts?
Let’s break it down. The Mets thought they were being clever, banking on interest and investment growth. Fast forward to today, and Bonilla is raking in money while the team struggles with their financial dealings. It’s a classic case of what could go wrong?—and it did.
Bonilla's Day: A Celebration
Every July 1, social media lights up with jokes and memes celebrating Bonilla's unique payday. Fans rejoice, and other players might even be a bit envious of his cushy arrangement. From his perspective, it’s a delightful reminder that sometimes, it pays to play the long game—even if you’re no longer playing at all.
Why Do We Love It?
There’s something inherently satisfying about Bonilla's story. It’s the underdog tale of a player who, despite being out of the game, remains relevant in conversations about sports finance. He’s become a cultural icon, a representation of how the world of sports can be both absurd and entertaining. Who knew a contract could lead to a holiday?
The Bottom Line
Bobby Bonilla’s situation has sparked discussions not just about contracts and deferred payments but also about life’s unpredictability. His saga serves as a reminder that in the world of sports, anything can happen—and sometimes, it’s the most outrageous stories that capture our hearts.
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