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It’s July 1st, So 54-Year-Old Bobby Bonilla Will Collect $1.19M From The New York Mets
It’s that time of the year again!
Former Major League Baseball player Bobby Bonilla may be 54 years old, but he is still collecting millions of dollars from the New York Mets, despite not having played in the league in years.
Happy Bobby Bonilla Day, everyone. The Mets will pay him another $1.19 million today and every July 1 through 2035.
— Anthony DiComo (@AnthonyDiComo) July 1, 2017
With today’s $1.19M payment, the Mets have paid Bobby Bonilla $8.3M for 2000 season (he didn’t play for them).
They still owe him $21.5M.
— Darren Rovell (@darrenrovell) July 1, 2017
This was part of a deal made when the Mets released Bonilla before the 2000 season while still owing him $5.9 million for the final year of his contract. The deal expires in 2035, at which point Bonilla will have been paid $29.8 million for a season in which he did not even play for the Mets.
So, how did this even happen? Via FTW:
“When they agreed to the new terms with Bonilla in 2000, the Mets’ owners believed they were receiving outrageous returns on their investment with Bernard Madoff, so the move made financial sense for the club given the information it had. Once Madoff’s Ponzi scheme became public and the Mets fell into financial ruin, Bonilla’s contract became an obvious and, to be fair, hilarious punchline. For a while in 2013, he earned more from the Mets than any of the outfielders actually on the roster. He was 50 years old.”
This will forever be the greatest contract a player has ever signed in the history of sports. Bonilla’s agent should be enshrined in the hall of fame because of it.