July 1 marks another Bobby Bonilla Day for baseball fans. The New York Mets pay the former All-Star $1.19 million every July 1 until 2035, a tradition that began in 2011.
The unique arrangement stems from negotiations in 2000 when the Mets agreed to buy out the remaining $5.9 million on Bobby Bonilla’s contract. Instead of paying a lump sum, both parties agreed to annual payments of $1.19 million through 2035.
Bobby Bonilla Day Sets Example for Future Athletes
The deal set a groundbreaking precedent that was both simple and secure — he now encourages young players to think long-term, securing guaranteed income so they can live stress-free and care for the people close to them.
Bonilla was a six-time All-Star and three-time Silver Slugger who won a World Series in 1997 with the Florida Marlins. Known as one of the most electric players in the game, Bonilla hit from both sides of the plate for power and average.
He batted .279 in his 16-year career, hit 287 home runs, and posted a 30.3 WAR (wins above replacement). Today, Bonilla is better known for his groundbreaking deferred payment deal that continues through 2035.
“Bobby Bonilla Day” has masked how good Bobby Bonilla actually was. The man could hit!
⚾️World Series champion
⚾️6x All-Star
⚾️3x Silver Slugger
⚾️Top ten in average three times
⚾️Higher career OBP than Ichiro
⚾️Top ten in slugging four times pic.twitter.com/OXExC56Qs4
— James B. Terry (@terryjt1) July 1, 2025
The deal was negotiated in 2000 when Bonilla left the Mets after the 1999 season. The team agreed to buy out his remaining contract worth $5.9 million, but instead of paying it in one lump sum, they chose annual payments after a 10-year waiting period.
Bonilla, knowing he was in the final stage of his career, wanted to secure financial stability during retirement.
The agreement included a 10-year pause on payouts, with the money compounding at an annual rate of 8%. Payments then began in 2011 and will continue for 25 years until 2035. The total payout will reach approximately $29.8 million, meaning Bonilla will receive payments until he turns 72.
Several athletes have followed Bonilla’s approach, including Shohei Ohtani. The baseball superstar signed a 10-year, $700 million contract with the Los Angeles Dodgers before the 2024 season but will only make $2 million per year during the contract’s life.
Ohtani will receive $68 million annually from 2034 to 2043, totaling $680 million in deferred compensation. The Dodgers gained short-term financial flexibility while Ohtani secured a steady income until age 48. Unlike Bonilla’s buyout arrangement, Ohtani’s contract was negotiated before signing.
Bonilla also has another deferred contract with the Mets and Orioles that pays him $500,000 annually for 25 years, which began in 2004. Other players have adopted similar strategies. Bret Saberhagen, who inspired Bonilla’s deal, receives $250,000 from the Mets for 25 years starting in 2004. Max Scherzer, Manny Ramirez, and Chris Davis also have arrangements providing stable retirement income.
Davis’ deal most closely resembles Bonilla’s structure. He will receive $42 million in deferred payments from 2023 through 2037. The payment schedule includes $3.5 million per year from 2023 to 2032 and $1.4 million per year from 2033 to 2037.
These arrangements allow retired players to earn more annually than some of today’s promising young players, demonstrating the long-term value of financial planning that Bonilla pioneered.