Another long-term contract after a half a year.

[HawkandMariner88]

Bobby Bonilla is 63 years old.
He last played in 2001.
His last 3 years combined he hit 14 home runs.

Bobby Bonilla receives $1.19 million every July 1 from the New York Mets due to a deferred contract agreement that spreads a $5.9 million buyout over 25 years with 8% interest.

How the Contract Works
In 2000, the New York Mets wanted to release Bobby Bonilla but still owed him $5.9 million from his contract. Instead of paying the full amount immediately, Bonilla and the Mets agreed to defer the payment until 2011. Under this arrangement, Bonilla receives annual payments of approximately $1.19 million every July 1 from 2011 through 2035, totaling nearly $29.8 million in nominal terms due to the 8% interest applied to the deferred amount.
This structure is a form of deferred compensation, which allows a team to delay paying a player while providing a guaranteed return on the deferred sum. The Mets’ ownership at the time, led by Fred Wilpon, believed their investments with Bernie Madoff would generate returns exceeding the 8% owed to Bonilla, making the deferral financially attractive at the time

Cultural and Financial Significance
The annual payment has become a well-known event in baseball, celebrated as “Bobby Bonilla Day” every July 1. Despite Bonilla last playing for the Mets in 1999 and retiring from MLB in 2001, the deferred contract ensures he continues to earn a substantial income decades after his playing career ended.

Bonilla also has a second deferred contract with the Baltimore Orioles, paying him $500,000 annually from 2004 through 2028

. These arrangements highlight how deferred payments are used in MLB for payroll flexibility, cash flow management, and long-term financial planning.

This is why Finance 101 should be mandatory in High School. They teach complete worthless nonsense like Home Ec. Auto shop and PE but Millions of kids go out in the world with no concept of Finance leading to shitty credit scores and idiot financial decisions like student loans and thinking the Bonilla arrangement is a bad deal for the Mets.

Auto Shop is bad? So learning how to work on cars is not an essential life skill?

[D-train]

Bobby Bonilla is 63 years old.
He last played in 2001.
His last 3 years combined he hit 14 home runs.

This is why Finance 101 should be mandatory in High School. They teach complete worthless nonsense like Home Ec. Auto shop and PE but Millions of kids go out in the world with no concept of Finance leading to shitty credit scores and idiot financial decisions like student loans and thinking the Bonilla arrangement is a bad deal for the Mets.

Auto Shop is bad? So learning how to work on cars is not an essential life skill?

If you know finance you don't need to work on cars. Never spent a second working on a car in my life. If you enjoy that type of thing, good for you.