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Why do Mets pay Bobby Bonilla every year? After Bonilla's return to the Mets in 1999, the team worked out a deal where they would defer the payment of $5.9 million owed to him with 8 percent ...
After his subpar 1999 season, the Mets released Bonilla, but still owed him $5.9 million. Bonilla and his agent offered the Mets a deal: Bonilla would defer payment for a decade, and the Mets would pay him an annual paycheck of just over $1.19 million on July 1, starting in 2011 and ending in 2035, adding up to a total payout of $29.8 million.
"The Mets owed Bonilla $5.9 million for the 2000 season and no longer wanted him. So the club negotiated with Gilbert to attach an 8 percent annual interest rate to that money. With the clock ...
This Saturday is the day Bonilla gets his annual payday from the New York Mets, who are still paying Bobby Bonilla $1,193,248.20 every year from a contract he was due almost 20 years ago.
In January 2000, Horwits and New York Mets general manager Steve Phillips agreed to restructure the last year of outfielder Bobby Bonilla’s contract so he would become a free agent. [10] The $5.9m salary would be deferred and later reported to be $1.19m paid to Bonilla every year from 2011 to 2035. [11]
The Mets' front office went to work trying to rebuild their squad that was only three years removed from their last playoff appearance. Their biggest acquisition was Pittsburgh Pirates outfielder Bobby Bonilla, who signed a five-year contract for just over $29 million that was one of the largest in league history at the time.
Mets fans celebrated Bobby Bonilla Day on July 1, the day the 58-year-old former MLB player collected another check for... View Article The post Here’s why Bobby Bonilla is collecting $1.19M a ...
Working to free up payroll space for the 2000 season, the Mets made made a deal with Bobby Bonilla.