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5h ago

Mets Issue 15th Bobby Bonilla Day Payment as Deferred Contracts Draw Renewed Focus

Steve Cohen’s Mets kept the July 1 tradition alive with a seven-figure payment that underscores parallels to deals like Shohei Ohtani’s deferred contract.

25 JUL 1993: NEW YORK METS THIRD BASEMAN BOBBY BONILLA WATCHES A PREVIOUS HIT DURING THE METS VERSUS LOS ANGELES DODGERS GAME AT DODGER STADIUM IN LOS ANGELES, CALIFORNIA. MANDATORY CREDIT: STEPHEN DUNN/ALLSPORT
Bobby Bonilla with the Mets in 1999.
File photo of Bobby Bonilla
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Overview

  • On July 1, 2025, the Mets delivered Bobby Bonilla’s 15th consecutive $1,193,248.20 check under the agreement reached in 1999.
  • That initial $5.9 million buyout was restructured into 25 annual installments from 2011 through 2035 with 8% interest, yielding nearly $29.8 million.
  • Fred Wilpon’s decision to defer the payout funneled the funds into Bernie Madoff’s investments, turning the contract into a cautionary tale.
  • New owner Steve Cohen has turned July 1 into “Bobby Bonilla Day” celebrations at Citi Field, featuring oversized checks and fan activities.
  • Bonilla’s deal remains one of MLB’s longest deferrals, outlasting most modern contracts and echoing megadeals like Ohtani’s deferred Dodgers agreement.