The schedule has been moved to July 1, and that means one thing: It's time for Mets fans everywhere to wish each other a happy Bobby Bonilla day! why? On Friday, Bobby Bonilla, 59, will receive a check for $1,193,248.20 from the New York Mets, as he did and will receive every July 1, 2011 through 2035.
Due to baseball's salary structure, Bonilla's annual salary is often higher than what some of the game's current young stars will receive in any given year, and this season also includes the salary of one of the game's top players. And some potential stars in the game. 2022.
But the Mets aren't alone in offering deferred payments to star players long after they've joined the team, and former Player of the Year and Cy Young among the biggest names still receive their annual salaries from their former employers. . .
Here's everything you need to know about Bonilla's payday, MLB deferred money and current players earning less for the 2022 season than what Bobby Bo will receive from the Mets on Friday.
So why does Bonilla get this salary?
In 2000, the Mets agreed to buy the remaining $5.9 million in Bonilla's contract.
Instead of paying Bonilla $5.9 million at the time, the Mets agreed to make annual payments of approximately $1.2 million for 25 years beginning July 1, 2011, including 8% negotiated interest.
At the time, the Mets' property was invested in Bernie Madoff's account that promised double-digit returns, and the Mets were about to make a huge profit if Madoff's account was flipped, but that didn't work out.
Under new owner Steve Cohen, who brought up the possibility of celebrating Bonilla at Citi Field each year shortly after taking charge of the team, the Mets adopted Bonilla Day.
I hope everybody is enjoying my favorite day of the year , Bobby Bonilla Day
— Steven Cohen (@StevenACohen2) July 1, 2022
How rare is this arrangement?
Bonilla last played for the Mets in 1999 and last played for the Cardinals in 2001, but he will get paid until 2035 (when he turns 72).
Here are some other notable futures contracts, courtesy of ESPN Stats & Information's Ryan Milowicki:
Bobby Bonilla (again): A second deferred contract plan with the Mets and Orioles pays him $500,000 a year for 25 years. These payments began in 2004.
• Bret Saberhagen: Will receive $250,000 annually from the Mets for 25 years (payments also began in 2004; this was the inspiration for the Bonilla deal).
• Max Scherzer: He will get 105 million dollars from citizens until 2028.
• Manny Ramirez: He will raise $24.2 million from the Red Sox through 2026.
• Ken Grevey Jr.: He will receive $3.59 million from the Reds every year until 2024 and the remaining nine-year contract, which is worth $116 million, was signed in 2000.
• Todd Hilton: He will receive $1.3 million from the Rockies each year until 2023, after a $13 million deferral when he signed a two-year extension in 2010.
How does this compare to the 2022 salary?
As baseball's salary structure encourages young players to start their careers by earning just over half of Bonilla's $1.19 million annually, here are some of the notable players who will earn less than Bonilla this season, included in Total WAR 2022:
• Tommy Adman (War 4.3): $722,000
• Yordan Alvarez (3.7 Harb): $764 thousand
• Kyle Tucker (War 3.7): $764,000
• Alexander Kirk (War 3.3): $714,000
• Tony Gonsulin (3.2 Harb): $720,000
• Alec Manouh (3.1 Harb): $730,000
• Ty France (3.0 WAR): $734,000
• Andres Jimenez (War 3.0): $706,000
• Jeremy Pena (War 2.9): $700,000
• Julio Rodríguez (War 2.9): $700,000
Statistical figures and information from ESPN were used throughout this story.
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