Bobby Bonilla Day: Mets' Annual $1.19M Payout Becomes Celebratory Tradition

Once a symbol of financial folly, Bobby Bonilla Day now marks a festive occasion under Mets' owner Steve Cohen.

Bobby Bonilla receives $1.19 million every July 1 from the Mets as part of a deferred payment agreement made in 2000.
The original $5.9 million buyout ballooned to $29.8 million due to an 8% interest rate and the Mets' involvement in the Bernie Madoff Ponzi scheme.
Current owner Steve Cohen has embraced the day, suggesting annual celebrations and even considering handing Bonilla an oversized check.
Deferred payments are common in MLB, with notable examples including Shohei Ohtani's $700 million Dodgers contract and Ken Griffey Jr.'s Reds deal.
Bobby Bonilla Day serves as a financial lesson for younger athletes, emphasizing the importance of securing long-term financial stability.