July 1 marks the annual arrival of Bobby Bonilla Day, when the former Mets infielder pockets $1,193,248.20 from New York. Though he last suited up for the club in 1999, the Mets have committed to a 25‑year payment stream that will run through 2035. The check arrives each July 1, a reminder of a quirky legacy deal, and fans often joke about the irony of paying more to a retired player than to current stars.

The arrangement stems from a 2000 buyout of Bonilla’s remaining $5.9 million salary. Instead of a lump sum, the Mets elected annual installments with an 8 % interest clause, banking on a Bernie Madoff fund that promised double‑digit returns. Under owner Steve Cohen, the team now celebrates the payday, joining other deferred contracts like Bret Saberhagen’s $250,000 a year, and has become a talking point among analysts.

Because many 2026 rookies earn under $900,000, Bonilla’s stipend eclipses their entire season salaries, a fact highlighted by ESPN’s salary list. Even Shohei Ohtani’s deferred plan yields $68 million a year only after 2034, far larger but structured differently. Bonilla’s deal remains one of baseball’s most cited examples of long‑term financial engineering, making it a frequent reference in salary‑cap debates.