Bobby Bonilla last played for the New York Mets in 1999, which is 14 years ago if my math is correct. Most people who haven’t played for a team in 14 seasons wouldn’t get payments from said team. In Bonilla’s case, however, Bonilla is not only getting paid by the Mets; but, he is the second highest paid outfielder on payroll, behind Jason Bay, who is another player that is not currently on the Mets.
The 2 highest paid #Mets outfielders this year are Jason Bay and Bobby Bonilla. That is literally unbelievable.Advertisement
— KFC (@KFCBarstool) February 18, 2013
I literally could not stop laughing when I read that tweet. If you are unaware of how this happened, let me try to explain it to you. I’m sure Mets fans know all about this situation, so this is for all the non-Mets fans out there. Considering how bad Bonilla was in 1999, the Mets wanted to cut ties with him before his contract ran out. There was only one year remaining on the deal; but, when your OPS+ is 54, one can understand why a team would want to terminate you. At the time, though, the Mets did not want to pay Bonilla’s $5.9 million buy-out, making the Wilpons and Steve Phillips think of a loophole.
The geniuses involved offered Bonilla deferred payments for 25 years with 8% interest. Thanks to that interest rate, that $5.9 million has turned into nearly $30 million, giving Bonilla over a million dollars a year until he is 73 years old.
If you need more prospective on this whole situation, Bonilla is making more money this season than Mike Trout. Simply stunning.