Why do Mets pay $ 1.19 million every 1st. July?

Bobby Bonilla will receive a tremendous check from his former employer, as he does every year on this date. This is what you need to know about the unusual annual payment day.

To the memory of Héctor Cruz, editor of AM850 Deportes, who enjoyed publishing this note year after year.

The calendar has changed to July, and that can mean only one thing: it is time for fans of the New York Mets of all the world you want a happy Bobby Bonilla Day! Because? Every July 1, Bobby Bonilla61, will charge a check for $ 1,193,248.20 of the New York Metsas he has done and will do it every first day of the seventh month of the year from 2011 to 2035.

Due to the salary structure of baseball, the annual payment day of Bonilla It is often more money than what some of the current stars of the game earn in a given year.

I Hope Everybody Is Enjoying My Favorite Day of the Year, Bobby Bonilla Day

– Steven Cohen (@stevenacohen2) July 1, 2022

But the Mets are not alone in the practice of delivering Deferred payments To star players long after the last time they were dressed for the team, with former MVP and winners of Cy Young Among the notable names that still charge annual payment checks of their previous employers. Here is everything you need to know about Bonilla’s day, the deferred money in MLB and the current players who earn less for the 2022 season than Bobby Bo will receive from the METS on Saturday.

So how was Bonilla agreed this pay?

In 2000, the METS agreed to buy the remaining $ 5.9 million in the Bonilla contract.

However, instead of paying Bonilla the $ 5.9 million at that time, the METS agreed to make annual payments of almost $ 1.2 million for 25 years as of July 1, 2011, including a negotiated interest of 8%.

At that time, the owners of the METS were involved with a account of Bernie Madoff that promised double -digit yields over the course of the deal, and the Mets were ready to obtain significant gain, if the Madoff account produced. He did not.

Under the new owner Steve Cohen who mentioned the possibility of celebrating Bonilla annually in the Citi Field As soon as he took the reins of the team in 2021, the Mets have embraced the celebration of Bonilla’s Day.

How strange is this agreement?

Bonilla played for the last time for the METS in 1999 and the last time he played in the largest for the cardinals in 2001, but will receive payments until 2035 (when he will be 72 years old).

These are some other notable contracts of deferred money, courtesy of Ryan Milowicki de AM850 Data:

• Bobby Bonilla (Again): A second deferred contract plan with the METS and Orioles pays $ 500,000 a year for 25 years. Those payments began in 2004.

• Bret Knowledge: It will receive $ 250,000 a year from the METS for 25 years (the payments also began in 2004; this was the inspiration for the Bonilla agreement).

• Max Scherzer: Will receive a total of $ 105 million from the nationals that will be paid until 2028.

• Manny Ramírez: It will raise a total of $ 24.2 million of the red averages until 2026.

• Ken Griffey Jr.: You will receive $ 3.59 million of the Reds every year until 2024 as postponement of your nine -year contract and $ 116 million signed in 2000.

• Todd Helton: It will receive $ 1.3 million of the rockies every year until 2023 as a result of $ 13 million deferred when signed an extension of two years in 2010.

How this is compared with the salaries of the 2023 season because the salary structure of baseball causes young players to begin their races by winning approximately half of the $ 1.19 million annually of Bonilla, there are some notable players who won less than Bonilla last season, listed by their 2023 WAR total, courtesy of AM850 data.

• Tommy Edman (4.3 War): $ 722k

• Yordan Alvarez (3.7 war): $ 764k

Adolis Garcia – $ 747,760 (3.1 War)

Jonah Heim – $ 745,660 (2.7 War)

Justin Steele – $ 740,000 (2.4 War)

Isaac Paredes – $ 735,000 (2.3 War)

Spencer Stider – $ 1,000,000 (2.2 War)

Joe Ryan – $ 730,250 (2.2 War)

Leody Taveras – $ 733,445 (2.1 War)

Brandon Marsh – $ 734,500 (2.0 War)

Josh Jung – $ 721,485 (2.0 War)

William Contreras – $ 739,000 (1.9 War)