Happy Bobby Bonilla Day! Why the New York Mets pay him $1.19 million every July 1

The calendar has turned to July 1, and that means 1 thing: It's clip for Mets fans everyplace to privation each different a Happy Bobby Bonilla Day! Why? On Monday, 61-year-old Bobby Bonilla volition cod a cheque for $1,193,248.20 from the New York Mets, arsenic helium has and volition each July 1 from 2011 done 2035.

Because of baseball's wage structure, Bonilla's yearly payday is often much than immoderate of the game's existent young stars volition marque successful a fixed year.

But the Mets are not unsocial successful the signifier of handing retired deferred payments to prima players agelong aft they past suited up for the team, with past MVPs and Cy Young winners among the notable names inactive collecting yearly paychecks from their erstwhile employers.

This past offseason, deferred wealth became an adjacent bigger talking constituent crossed the athletics with the Los Angeles Dodgers often opting for the structure, highlighted by a woody with Shohei Ohtani that volition hold payments for $680 cardinal of his $700 cardinal megadeal. He'll commencement receiving $68 cardinal per twelvemonth successful 2034.

Here is everything you request to cognize astir Bonilla's payday, deferred wealth successful MLB and the existent players making little for the 2025 play than Bobby Bo volition person from the Mets connected Saturday.

So wherefore does Bonilla get this payday?

In 2000, the Mets agreed to bargain retired the remaining $5.9 cardinal connected Bonilla's contract.

However, alternatively of paying Bonilla the $5.9 cardinal astatine the time, the Mets agreed to marque yearly payments of astir $1.2 cardinal for 25 years starting July 1, 2011, including a negotiated 8% interest.

At the time, Mets ownership was invested successful a Bernie Madoff relationship that promised double-digit returns, and the Mets were poised to marque a important nett if the Madoff relationship delivered -- but that did not enactment out.

Under caller proprietor Steve Cohen, who mentioned the possibility of celebrating Bonilla astatine Citi Field annually soon aft taking implicit the team, the Mets person embraced Bonilla's day.

How uncommon is this arrangement?

Bonilla past played for the Mets successful 1999 and past played successful the majors for the Cardinals successful 2001, but helium volition beryllium paid done 2035 (when he'll beryllium 72).

Here are immoderate different notable deferred-money contracts, courtesy of ESPN Research:

• Bobby Bonilla (again): A 2nd deferred-contract program with the Mets and Orioles pays him $500,000 a twelvemonth for 25 years. Those payments began successful 2004.

• Bret Saberhagen: Will person $250,000 a twelvemonth from the Mets for 25 years (payments besides began successful 2004; this was the inspiration for Bonilla's deal).

• Max Scherzer: Will person $105 cardinal full from the Nationals that volition beryllium paid retired done 2028.

• Manny Ramírez: Will cod $24.2 cardinal full from the Red Sox done 2026.

• Chris Davis: Davis' statement with the Orioles mightiness marque him the caller Bonilla, arsenic helium collects $59 cardinal successful deferred payments during a 15-year agelong that started past twelvemonth and continues done 2037. Davis received $9.16 cardinal successful 2024 and volition again successful 2025, past helium volition cod $3.5 cardinal from 2026 to 2032 and $1.4 cardinal from 2033 to 2037.

How does Bonilla's woody comparison to Ohtani's contract?

The biggest quality successful the 2 deferral-heavy deals is that Bonilla's came arsenic the effect of a buyout by the Mets for an underperforming veteran, whereas Ohtani's wage statement was projected by a superstar astatine the tallness of his escaped agency.

In his unprecedented contract, Ohtani is being paid conscionable $2 cardinal annually during the 10-year magnitude of his woody with the Dodgers. From 2034 to 2043, Ohtani volition person $68 cardinal per year. The parameters of the statement let the Dodgers much short-term flexibility portion besides lowering the team's competitory equilibrium taxation load with lone the present-day worth ($46 cardinal per year) of the declaration counting toward L.A.'s CBT payroll.

How Bonilla's outgo compares to 2025 MLB salaries

Because baseball's wage operation has young players commencement their careers by earning conscionable implicit fractional of Bonilla's yearly $1.19 million, the pursuing players volition beryllium making little than Bonilla this play (listed successful bid of 2025 Fangraphs WAR entering Monday's games):

Pete Crow-Armstrong -- $771,000 (3.9 WAR)

James Wood -- $764,600 (3.5 WAR)

Paul Skenes -- $875,000 (3.4 WAR)

Riley Greene -- $812,400 (3.0 WAR)

Hunter Brown -- $807,400 (3.0 WAR)

Andy Pages -- $770,000 (2.9 WAR)

Jacob Wilson -- $760,000 (2.8 WAR)

Figures from ESPN Research were utilized passim this story.