Bobby Bonilla Day

Bobby Bonilla Day: Mets Fork Over $1.19M As Quirky Tradition Lives On

On July 1, 2025, the New York Mets marked the 15th annual “Bobby Bonilla Day.” Former MLB star Bobby Bonilla, now 62, received another $1.19 million payment under his deferred compensation plan. This quirky payout continues every July 1 through 2035.

Why the Deal Was Made

Back in 2000, the Mets owed Bonilla about $5.9 million. Instead of paying immediately, they agreed to defer payments for 25 years, adding 8% annual interest, beginning in 2011. At the time, Mets owner Fred Wilpon believed his investments with Bernie Madoff would yield more than 8%, allowing the team to pay Bonilla later. That plan collapsed when Madoff’s Ponzi scheme was exposed—but the Mets remain committed to the deal.

Is It a Smart Deal?

Though it sounds generous—Bonilla will collect nearly $30 million total—the payout doesn’t adjust for inflation. That means the purchasing power of each $1.19 million check is gradually declining. Financial analysts also point out that moderate investments, such as real estate or stock market funds, might have outperformed the deal over time.

Cultural Impact

Iconic payday: Fans and even Mets owner Steve Cohen have embraced the tradition. July 1 feels like a holiday at Citi Field, complete with social media buzz and promotions.
Financial lesson: The "Bonilla Plan" (coined by his agent, Dennis Gilbert) serves as a case study in deferred compensation and financial planning for athletes.

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