Bobby Bonilla Day: Why a retired baseball player earns more than $1 million for doing nothing
Since 2011, his former employer, the New York Mets have been paying Bonilla $1.2 million annually on the first of July. They will continue doling out every July 1 till 2035.
How would you feel if you could earn more than $1 million every year for doing absolutely nothing even 20 years after retiring from your workplace? It sounds like a dream, right? But Bobby Bonilla knows exactly how it feels. This retired baseball player earns more than $1 million on July 01 every year from his former team New York Mets.
July 01 marks the team's annual payment to their one-time star, 20 years after he left the game. It's become something of an ironic fan holiday, one the team's new ownership has even acknowledged.
Since 2011, his former employer, the New York Mets have been paying Bonilla $1.2 million annually on the first of July. They will continue doling out every July 1 till 2035.
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At that time Bonilla will be 72.
Why do the Mets keep paying him the crazy sum of money? Heading into the 2000 season, the Mets decided to buy out the remaining $5.9 million on their ageing outfielder's contact.
But rather than shell out the cash up front, team ownership accepted a deal proposed by Bonilla's agent to defer payments by a decade. The deal worked out spectacularly for Bonilla - he was due about $6 million in 2000, but with interest, by the time the deal ends he will end up having collected nearly $30 million.
Bonilla played professionally from 1986 to 2001, including two stints with the Mets -- 1992 to 1995, and then again in 1999.
A two-time All-Star with the club, he left before the 2000 season, with the team still owing him millions of dollars.
The Mets have been trying to make the best use of the fiasco turn it into viral gold by embracing #BobbyBonillaDay with humour — and synergy.
Indeed, a home run for all!
