Bobby Bonilla receives annual sums of over $1 million from the Mets, known as Bobby Bonilla Day, due to a unique financial arrangement. The Mets agreed to pay Bonilla $1,193,248.20 from 2011 to 2035 instead of a lump sum to settle his contract. This arrangement was orchestrated by former owner Fred Wilpon, connected to Bernie Madoff's financial schemes, with hopes of generating profits to cover his buyout. Despite being traded multiple times during his career, this payment remains a notable financial decision within sports contracts.
The Mets struck a bizarre deal with Bobby Bonilla to pay him $1,193,248.20 annually from 2011 through 2035, a total that accumulates to more than $29 million.
Bonilla was released by the Mets in 1999, yet rather than paying him outright, a deal was struck to pay him annually with interest due to financial hopes linked to Bernie Madoff.
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