Baseball has long celebrated its players who’ve mastered the game and etched their names in history through excellence. But for every superstar bat flip and Cy Young-winning arm, there exists another class of players. A rare few who become part of baseball lore for reasons that transcend the game itself.
Today’s headlines are dominated by the record-shattering contracts of modern icons. But there’s one name that resurfaces every year for what might be baseball’s most unconventional financial agreement. Enter Bobby Bonilla. Once a dependable utility man for the Mets, Bonilla hasn’t taken a major league at-bat since 2001. Yet every July 1st, his name echoes through the halls of Citi Field and across talk shows! Wondering, what’s the story?
What is Bobby Bonilla Day? Everything about its origin, history, and more
The former Met had a pretty impressive MLB career that often gets overshadowed. Bonilla has played a total of 16 seasons and put up a strong 124 OPS+. Moreover, he was a 6x All-Star and even finished in the top three of MVP voting twice. In his MLB career, Bonilla played first base, third base, and outfield, hitting .279 with a .358 on-base percentage and a .472 slugging percentage.
However, with such an impressive career, Bonilla was more remembered for his contract fiasco with the Mets! And fans remember him every year on July 1st – the day Bonilla’s contract with the Mets gets renewed attention. In popular culture, this day is now known as Bobby Bonilla Day, and a gentle reminder to all MLB franchises about how not to do a deal with a player.
The famous, or rather infamous, contract between the Mets and Bonilla altered the status quo that prevailed before the 2000s on how clubs had deals with players. While you talk about Ohtani’s huge deferred payments, you are surely more concerned about his performance. But here you are on Bobby Bonilla Day – the 62-year-old who has not made an MLB appearance in two decades is still getting celebrated every year, right at the beginning of July!
Why it is still celebrated every year: Inside a haunting decision
There are multiple examples of deferred payments in MLB, and Bonilla is neither the first nor the last of its kind. However, it is something which was unheard of previously and is likely not to be heard again in the future.
Well, the last time Bonilla hit the ground was in 2001, but he is still reiterating his contract with the Mets at the age of 62! And it will go on till 2035, when he will be 72. Bonilla will keep on receiving $1.19 million every year on July 1! The reason?
All thanks to the previous Mets’ ownership. In 1999, Bonilla was on the last leg of his career and owed just $5.9 million. But the team chose to invest the amount in Bernie Madoff’s infamous Ponzi scheme, which went for a toss. Eventually, the Mets lost their investments and opted for a deferred payment for Bonilla.
The term? 25 years of annual payment with interest that started from 2011!
Back to the present, every year on July 1, the Mets are handing out a check of $1.19 million to Bonilla, and it will continue till 2035. While this is not a bad retirement plan for Bonilla, the Mets would incur around $30 million for a $5.9 million payout. So, that’s Bobby Bonilla Day for you!
While fans might have something to celebrate every year on this day, for the Mets, it’s probably nothing but regrets that will continue till 2035.
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