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Bobby Bonilla, New York Mets and Airbnb Want You to Step Right Up and Spend a Night at Citi Field
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Bobby Bonilla is collecting $1 19 million per year from Mets until 2035
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First Posted: Jul 01, 2021 02:00 PM EDT
Photo : Getty Images
After 10 years, Bobby Bonilla s mock holiday has finally been acknowledged by the fans and the team as management pays Bonilla his whopping annual paycheck of $1,193,28.20.
Just What is Bobby Bonilla s Day?
Bobby Bonilla was one of the Mets MVPs during the time he played. He last played for the team way back in 1999. It s now on its 10th anniversary and has just now been embraced and acknowledged by the team. Yes, a decade is enough for any man to acknowledge something, apparently based on the Mets.
The reason for the big annual payday of $1,193,28.20 was a time when the Mets management invested heavily in a Bernie Madoff account promising double-digit returns. With that type of promise, they were waiting for the cash to come in. However, it didn t.
By DJ 33 1/3
Jul 1, 2021
It s July 1, and that means one thing: Happy Bobby Bonilla Day!
Bobby Bonilla will collect a check for $1,193,248.20 from the New York Mets, and will do so through 2035.
Bonilla s annual payday is more than some of the game s current young stars make in a given year, all because in 2000, the Mets agreed to buy out the remaining $5.9 million on Bonilla s contract.
However, instead of paying Bonilla, the Mets agreed to make annual payments of nearly $1.2 million for 25 years starting July 1, 2011, because of a negotiated 8% interest.
At the time, Mets owners were invested in a Bernie Madoff account that promised double-digit returns, and the Mets were going to make a significant profit if the Madoff account delivered, it didn t.