Bobby Bo hasn't played for the Mets since 1999, but Tuesday he'll receive his annual hefty check from the team.
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Happy Bobby Bonilla Day: New York Mets pay him $1.19M every July 1
The calendar has turned to July 1, and that means one thing: It's time for Mets fans everywhere to wish each other a Happy Bobby Bonilla Day! Why? On Tuesday, 62-year-old Bobby Bonilla will collect a check for $1,193,248.20 from the New York Mets, as he has and will every July 1 from 2011 through 2035.
So why does Bonilla get this payday?
In 2000, the Mets agreed to buy out the remaining $5.9 million on Bonilla's contract.
However, instead of paying Bonilla the $5.9 million at the time, the Mets agreed to make annual payments of nearly $1.2 million for 25 years starting July 1, 2011, including a negotiated 8% interest.
At the time, Mets ownership was invested in a Bernie Madoff account that promised double-digit returns, and the Mets were poised to make a significant profit if the Madoff account delivered -- but that did not work out.
Under new owner Steve Cohen, who mentioned the possibility of celebrating Bonilla at Citi Field annually soon after taking over the team, the Mets have embraced Bonilla's day....
