Here's Why Retired Bobby Bonilla Is Still Getting a $1.19 Million Check From the Mets Every July 1st
Bobby Bonilla is going to be rich forever!
The former Major League Baseball slugger retired in 2001, but is still getting paid by the New York Mets to the tune of $1.19 million each July 1st, making today pay day for absolutely nothing at all.
Wait... how is this possible?
Well, Bonilla, now 53, played for the Mets from 1992-94, 1995 and again in 1999, before the Mets cut him right before the 2000 season.
Before the Mets released Bonilla, though, they owed him $5.9 million for the 2000 season. So, the franchise negotiated with his agent, Dennis Gilbert, that they would attach an eight-percent interest rate to that cash in a deferred money deal stretched out until 2035.
Genius for Bonilla and his agent, miserable for the Mets and most painful for their fans.
The first installment of the $1.19 million payout kicked in on July 1, 2011, and Friday marks the Mets' sixth payout to Bonilla. Read the full details of the deal here.
Bobby's going to stay getting paid for a long, long time.
BET Sports News — Get the latest news and information about African-Americans in sports, including weekly recaps, celebrity news and photos of your favorite Black athletes.
