Bobby Bonilla, a former MLB player, continues to receive $1.19 million annually from the New York Mets after deferring payments from a $5.9 million contract. The payments started on July 1, 2011, and will run through 2035, resulting in nearly $30 million due to an 8% interest agreement. Bonilla celebrates this day, receiving texts and appreciation from friends, who treat it as a significant occasion. The Mets deferred payments expecting returns from investments tied to Bernie Madoff, but the scandal led to financial losses for the team.
Bobby Bonilla receives a $1.19 million check annually from the New York Mets, starting on July 1, 2011, until 2035, totaling nearly $30 million.
Bonilla considers July 1, the day he receives his annual payment, more significant than his birthday, enjoying the excitement and texts he receives from friends.
The Mets deferred Bonilla's payment after the 1999 season, expecting high returns from investments with Bernie Madoff, which ultimately resulted in significant losses.
Bonilla will be 72 when the annual payments from the Mets cease, having negotiated an 8% interest rate over the years.
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