🥎 Bobby Bonilla is receiving $1.2 million from the New York Mets today. Here are some other athletes who also receive large deferred payments from teams they no longer play for 👇
“Bobby Bonilla Day” was trending on Twitter on Friday as it does every year on July 1. That’s because it marks the annual date when the former New York Mets player receives $1.2 million from the team, despite being retired for over a decade.
Then-Mets owner Fred Wilpon was invested in a Bernie Madoff account at the time and reportedly believed he would be making significant returns in the future. Obviously, that did not happen as Madoff’s hedge fund eventually dissolved after it was revealed to be a Ponzi scheme.Bonilla, now 58, is not the only retired baseball player who has a lucrative deferred payment agreement with a sports franchise.
One reason some teams offer players deferred payments, even if the franchise ends up paying more to the player than they originally owed, is because it frees up money at the time to spend on draft picks or free agent players that they believe can help the team compete.See also: Fernando Tatis Jr.’s $340 million contract will be shared with a firm that invested in him when he was a teenager
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