Every year on July 1, fans of the New York Mets mark the calendar for Bobby Bonilla Day—the day the retired player receives a yearly payment of $1.19 million from the team. This annual payout started in 2011 and will continue until 2035, even though Bonilla hasn’t played since 1999.
The reason? Bonilla agreed to a deferred payment deal instead of a lump sum when the Mets bought out his contract. With interest added, it turned into a long-term windfall for him.
Interestingly, some of today’s top MLB players earn less than Bonilla in a season. Deferred contracts have become a common trend in the league. For example, Shohei Ohtani’s $700 million deal with the Dodgers includes $680 million in deferred payments, which he’ll begin receiving in 2034.
Bobby Bonilla Day remains the most famous example—proving how creative contracts can lead to legendary paydays.
So, why does Bobby Bonilla get paid every July 1?
In 2000, the Mets bought out his $5.9M contract—but instead of a lump sum, they agreed to pay $1.19M annually for 25 years, starting in 2011, with 8% interest.
The Mets expected to profit from Bernie Madoff’s investments at the time—but that plan failed.
Now, under owner Steve Cohen, the team embraces Bobby Bonilla Day as part of Mets history.
Bobby Bonilla hasn’t played since 1999, but he’ll earn $1.19M every year until 2035.
Other rare MLB deferred contracts include:
- Bonilla (again): $500K yearly from Mets & Orioles (2004–2028)
- Saberhagen: $250K yearly from Mets (2004–2028)
- Scherzer: $105M from Nationals through 2028
- Ramírez: $24.2M from Red Sox until 2026
- Chris Davis: $59M from Orioles through 2037
These deals are uncommon but not unique in baseball.
Bonilla’s deal was a buyout for a declining player. In contrast, Ohtani’s contract was designed by a superstar during free agency.
Ohtani will earn just $2M per year with the Dodgers from 2024–2033, then receive $68M annually from 2034 to 2043.
His deal helps the Dodgers reduce short-term payroll pressure and manage competitive balance tax costs.
In 2025, Bobby Bonilla will earn $1.19M, more than many top young MLB stars due to rookie salary rules.
Players earning less than Bonilla this season:
- Pete Crow-Armstrong: $771K
- James Wood: $764K
- Paul Skenes: $875K
- Riley Greene: $812K
- Hunter Brown: $807K
- Andy Pages: $770K
- Jacob Wilson: $760K
Bonilla’s unique contract still outpaces rising talent today.
Note: Image Credit: Pinterest