Bobby Bonilla's Deferred Salary: A Tale of Mets' Bizarre Financial Legacy

The New York Mets have made their annual $1.19 million payment to former outfielder Bobby Bonilla, a bizarre deferred salary arrangement that began in 2011 and will continue until 2035.

The New York Mets have once again parted ways with $1.19 million to former outfielder Bobby Bonilla, a payment that has become an annual ritual and a testament to the team's peculiar financial history.

The deferred payment plan, which began in 2011, stemmed from a five-year contract worth about $29 million that Bonilla signed with the Mets in 1985. However, the bulk of the salary was deferred and began accruing interest about 20 years later. As a result, the Mets are obligated to make annual payments to Bonilla until 2035.

Bobby Bonilla's Deferred Salary: A Tale of Mets' Bizarre Financial Legacy

Bonilla's departure from the Mets in 1995, when he was traded to the Baltimore Orioles, did not alleviate the team's financial burden. He went on to win a World Series with the then-Florida Marlins in 1997, and had another brief stint with the Mets in 1999. His final MLB appearance came with the St. Louis Cardinals in 2001.

Since then, July 1 has marked the anniversary of the Mets' perplexing deal with Bonilla. The outfielder himself has embraced the notoriety, even appearing in a Mint Mobile commercial to poke fun at the situation. Among New York fans, the day has become a tongue-in-cheek celebration.

Bobby Bonilla's Deferred Salary: A Tale of Mets' Bizarre Financial Legacy

"It's kind of become like my birthday so to speak, right? It's become that big," Bonilla told the New York Post. "I don't think people know the exact date of my birthday, but they certainly know when this deferred comp comes in, so it's pretty cool in that respect."

The Mets' current owner, Steve Cohen, has acknowledged the unusual nature of the arrangement. However, Bonilla has indicated that he is not considering a buyout of the remaining payments until after his child has finished college.

Bobby Bonilla's Deferred Salary: A Tale of Mets' Bizarre Financial Legacy

At 61 years of age, Bonilla remains financially secure despite being out of the MLB for over two decades. In fact, his annual Mets payout surpasses the base salary of one of the most promising quarterbacks in the NFL, Brock Purdy of the San Francisco 49ers, who is set to earn $985,000 in his third season.

Bonilla's deferred salary has become a symbol of the Mets' past financial missteps, but it has also taken on a comical dimension. The annual ritual of "Bobby Bonilla Day" serves as a reminder of the bizarre ways in which sports contracts can play out, and it continues to amuse both Mets fans and baseball observers alike.