'It's Bigger Than My Birthday': He Retired in 2001, But His Former Employer Still Pays Him More Than $1 Million a Year July 1 is also known as "Bobby Bonilla Day."
By Erin Davis
Former Major League Baseball (MLB) player Bobby Bonilla played his last professional game in 2001 for the St. Louis Cardinals.
But the six-time All-Star still gets paid from a different former team – the New York Mets — in the form of a $1.19 million check every year on July 1.
"It's bigger than my birthday," Bonilla told USA TODAY Sports. "When that day comes, I get texts all day long, and couple of days after, and maybe a day or two before. Everybody just seems to love that day and have fun with it. It's become a pretty big thing."
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The Mets wanted to buy out the remaining $5.9 million on Bonilla's contract after the 1999 season, but instead deferred the payments to $1,193,248.20 annually, paid on July 1, starting in 2011 through 2035.
Bonilla played his last game for the Mets in 1999. At the time, the contract deferment seemed like a good idea, ESPN notes, as the Mets were "invested" with Bernie Madoff and expected large returns, but took heavy losses in the scandal. The Madoff investments nearly "ruined" the team, the New York Times wrote.
Bonilla, meanwhile, will be 72 when his payments stop. An 8% interest was negotiated, which means the former MLB player will get almost $30 million from the deal, ESPN notes.
