Bobby Bonilla Day is celebrated every year on July 1. On this day, 62-year-old Bobby Bonilla, who last played for the Mets in 1999, receives an annual payment of $1,193,248.20 from the team. This annual payout, set to continue through 2035, began from a deferred contract that has become a legendary story in baseball’s financial history. However, Bonilla isn’t the only player, deferred payments are a growing trend in Major League Baseball (MLB), with stars like Shohei Ohtani and others receiving similar payments after their playing days.
The Bobby Bonilla payday explained
In 2000, the New York Mets owed Bobby Bonilla $5.9 million but decided to pay it later with 8% interest. Instead of paying him all at once, they agreed to give him about $1.2 million every year for 25 years, starting in 2011. This deal was made because the Mets thought they could make more money by investing with Bernie Madoff, who promised big profits. But Madoff’s investment scheme turned out to be a huge scam and collapsed.
Now, the Mets’ current owner, Steve Cohen, has fun with the situation. He even suggested celebrating Bobby Bonilla every year at Citi Field, the Mets’ stadium. This unusual payment plan keeps Bonilla, who is 62 and long retired from baseball, connected to the sport and still getting paid.
Deferred contracts
Deferred contracts help teams manage payrolls by spreading payments over decades. According to ESPN Research, notable examples include:
Bret Saberhagen: Receives $250,000 yearly from the Mets through 2028, a model for Bonilla’s deal.
Max Scherzer: Collects $105 million from the Nationals until 2028.
Manny Ramírez: Earns $24.2 million from the Red Sox through 2026.
Chris Davis: Gets $59 million from the Orioles through 2037, including $9.16 million in 2025.
Bonilla’s paycheck vs 2025 salaries of youngsters
Baseball’s salary structure means young players often earn less than Bonilla’s $1.19 million annual payout. Based on 2025 FanGraphs WAR projections, several rising stars will earn less than Bonilla this season:
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)
Bobby Bonilla’s contract vs Shohei Ohtani’s megadeal
Bobby Bonilla’s contract and Shohei Ohtani’s megadeal are very different. Bonilla’s deal was a buyout for a player past his prime, paying him $1.19 million every year from 2011 to 2035. Ohtani, a superstar, signed a $700 million contract with the Dodgers but deferred $680 million, earning just $2 million a year for 10 years, with big $68 million payments starting in 2034. This helps the Dodgers save money now and lowers their tax burden, as only $46 million counts toward their payroll each year.
