What is a Bobby Bonilla Day? Explaining why the former Met gets paid $2M every July 1 2022

What is a Bobby Bonilla Day? Explaining why the former Met gets paid $2M every July 1 2022

The calendar has turned to July 1, and that means one thing: It's time for Mets fans everywhere to wish each other a Happy Bobby Bonilla Day! Why? On 

Friday, 59-year-old Bobby Bonilla will collect a check for $1,193,248.20 from the New York Mets, as he has and will every July 1 from 2011 through 2035. 

Because of baseball's salary structure, Bonilla's annual payday is often more than some of the game's current young stars 

will make in a given year -- and this season that even includes the salary of one of the sport's biggest sluggers and some potential 2022 All-Stars. 

But the Mets are not alone in the practice of handing out deferred payments to star players long after they last suited up for 

the team, with former MVPs and Cy Young winners among the notable names still collecting annual paychecks from their previous employers. 

Here is everything you need to know about Bonilla's payday, deferred money in MLB and the current players making less for the 2022 season than Bobby Bo will receive from the Mets on Friday. 

So why does Bonilla get this payday? In 2000, the Mets agreed to buy out the remaining $5.9 million on Bonilla's contract.

However, instead of paying Bonilla the $5.9 million at the time, the Mets agreed to make annual payments of nearly $1.2 million for 25 years 

starting July 1, 2011, including a negotiated 8% interest. At the time, Mets ownership was invested in a Bernie Madoff account

that promised double-digit returns, and the Mets were poised to make a significant profit if the Madoff account delivered -- but that did not work out.