Bobby Bonilla Day has become a beloved annual tradition for baseball fans. On July 1, the New York Mets will send Bonilla $1.19 million as part of his deferred payment structure, which began in 2011. The payment is the result of a unique deal that allowed the team to retain financial flexibility while retaining ownership of the player’s salary.
Bonilla signed a four-year contract with the Miami Marlins ahead of the 1997 season, but was traded to the Dodgers and then back to the Mets during his tenure. However, in an effort to avoid paying him a large sum, the team negotiated a deferred payment plan with Bonilla’s agent. The deal paid off over time, as Bonilla continued to play for eight teams across 16 seasons.
Other notable players have also received similar contract structures, including Shohei Ohtani and Max Scherzer. These deals offer teams flexibility while still providing players with significant payments in the future. However, they can be complex and may not always work out in the best interest of both parties.
The Mets’ reaction to Bobby Bonilla Day has been one of intrigue, with team owner Steve Cohen suggesting that the team could lean into the holiday and present Bonilla with a big check at Citi Field. While the team has never done this, they have planned promotions like an Airbnb package for fans to rent a VIP suite in honor of the occasion.
As for Bonilla, he will receive $500,000 per year from the Mets and Baltimore Orioles for 25 years, starting in 2004. He is set to receive his final check at age 72, making this deal one of the most famous deferred payment plans in MLB history.
Source: https://www.nytimes.com/athletic/6465415/2025/07/01/bobby-bonilla-day-mlb-deferred-contracts-mets