Every July 1, Bobby Bonilla earns a check for over $1 million from the New York Mets despite last playing for the team in 1999. Here's the backstory behind one of MLB's wildest deals.
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Bobby Bonilla receives a $1,193,248.20 check from the New York Mets every year on July 1 and will have net just over $29M when the installments end in 2035. It's been reported that Wilpon lost roughly $700 million through Madoff, who was jailed in 2009 and spent the rest of his life in prison. From 1992 to the time he was traded in 1995, he had a .921 OPS with the team, which blows by the .838 he had with the Pirates. He also hit a career-high 34 homers with the Mets in 1993 and was an AL All-Star in 1993 and 1995. Sure, in his 1999 return, he hit just .160 with a .579 OPS, both career-worsts, but for the most part, the notion that Bonilla was an on-field disappointment for most of his time with the Mets is false.
Bonilla is one of many MLB players, current and former, receiving deferred payments over an extended period fo time., if Bonilla had accepted the $5.9 million and invested it at 8%, it would have grown to $104.1 million by 2035. If he took each annual payment at an 8% investment, it would reach $95.2 million in 12 years – the current deal"only" has him netting just over $29 million.
The Cincinnati Reds have also been paying $3.59 million a year to Ken Griffey Jr. since 2009, but that's finally ending next year.
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