Why the Mets still pay a 53-year-old who hasn't played in 15 years over $1 million each July

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Hey Mets Fans: Happy Bobby Bonilla Day!

Every sport has its fair share of notoriously bad contracts.

One of the most notorious is the strange "deferred money" contract that the Mets gave to Bobby Bonilla in 1999.

Bonilla was a good player who played two stints for the Mets — in the early '90s before skipping around the league and returning in 1999.

However, the Mets were dissatisfied with his performance in 1999 (he played only 60 out of 162 games that year and performed abysmally when he did play), so they didn't want to pay him the $5.9 million he was owed the following year.

In order to get out of the deal, the Mets and Bonilla's agent, Dennis Gilbert, brokered a deal that would defer the payment of the $5.9 million until 2011. ESPN's Darren Rovell explains it fully:

"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 starting in 2000, that adds up to $29.8 million. The first installment of the payout came on July 1, 2011, and the Mets will pay their sixth installment on [July 1]."

The Mets chose this option thanks, in part, to Bernie Madoff. The Wilpons, who own the Mets, had a number of accounts with Madoff, who promised exorbitant returns, which motivated them to think that they would have enough money to make these deferred payments.

Alas, Madoff was exposed in a Ponzi scheme, and the Wilpons now have a relatively small, yet consistent financial hardship each year.

The deal looks laughable now for the Mets, but surely Bonilla doesn't mind the $1 million paycheck each July.


Ranking MLB stadiums
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Ranking MLB stadiums

30. Tropicana Field, Tampa Bay Rays

The playing surface is a mixture of grass and artificial turf, and there are fire inspection rings in play over head. Must be a joy to play in.

(AP Photo)

29. Rogers Centre, Toronto Blue Jays

The only things worse than this warehouse-looking place are the metric measurements on the outfield walls.


28. O.co Coliseum, Oakland A's

Any place sewage seeps back through the clubhouse drains probably isn’t a suitable location for pro sports.

(AP Photo/Jeff Chiu)

27. Globe Life Park in Arlington, Texas Rangers

Remember when this place was state of the art? Neither do we.

(AP Photo/Jim Cowsert)

26. U.S. Cellular Field, Chicago White Sox

What’s more bland than the Chicago White Sox? Their uniforms. What’s worse than that? The stadium.

(AP Photo/Jeff Haynes)

25. Turner Field, Atlanta Braves

This place won’t live to see its 20th birthday. Good luck to the Braves’ next home, which will probably still always be empty, too.

(AP Photo/John Bazemore)

24. Marlins Park, Miami Marlins

Makes perfect sense for an orange and teal team to play in a stadium with neon green everything. Also, has anyone ever figured out what exactly this is? 

(AP Photo/Lynne Sladky)

23. Angel Stadium, Los Angeles Angels

Nothin’ like some fake rocks in center field to really set the mood for a baseball game.


22. Progressive Field, Cleveland Indians

The fact that it’s no longer Jacobs Field bumps this down at least five spots.


21. Busch Stadium, St. Louis Cardinals

Can this place just stay out of the playoffs just once?


20. Great American Ballpark, Cincinnati Reds

How cheap is that wind tunnel?

 (AP Photo/Al Behrman)

19. Chase Field, Arizona Diamondbacks

Center field is the deepest part of the stadium, guys. The wall doesn’t need to be that high.

Clintus McGintus/Flickr

18. Yankee Stadium, New York Yankees

Great place to see the best baseball players of the 20th century.

(AP Photo/Julie Jacobson)

17. Miller Park, Milwaukee Brewers

Bernie sliding down that slide for every home run is ridiculous and awesome at the same time. Every time.

(AP Photo/Morry Gash)

16. Citizens Bank Park, Philadelphia Phillies

Once you get over the fact that some little league parks have deeper fences? Cool place to catch a game.

 (AP Photo/Matt Slocum)

15. Dodger Stadium, Los Angeles Dodgers

They should probably just name it Vin Scully Stadium at this point. Might help them out in these rankings.

 (AP Photo/Jae C. Hong)

14. Kauffman Stadium, Kansas City Royals

The scoreboard being shaped like a long crown is a bit odd, but you can’t blame them for playing up the whole royalty thing.

(AP Photo/Charlie Riedel)

13. Coors Field, Colorado Rockies

If it’s not a blizzard in Denver, Coors Field is still pretty impressive. But let’s lose those humidors and get these balls flying like its 2001. 

(AP Photo/Jack Dempsey)

12. Comerica Park, Detroit Tigers

Credit to the grounds crew for making sure the infield didn’t collapse through the ground while Prince Fielder and Miguel Cabrera manned the corners. That approached a good 600 pounds of man.

 (AP Photo/Matt Halip)

11. Minute Maid Park, Houston Astros

Get back to us next year, once that ridiculous hill and flag pole are scrapped.

(AP Photo/Bob Levey)

10. Target Field, Minnesota Twins

You probably won’t want to sit outside in Minnesota until about mid-June, but after that, Target Field is tough to beat.

 (AP Photo/Jim Mone, File)

9. Citi Field, New York Mets

Ownership may be fresh out of cash, but at least its stadium has an awesome selection of $12 beers. 

(AP Photo/Kathy Kmonicek)

8. Nationals Park, Washington Nationals

It’s been seven years, and the team just can’t sell these naming rights. Strangely, this makes the park even cooler.

(AP Photo/Alex Brandon)

7. Safeco Field, Seattle Mariners

For a stadium that opened up in 1999, the Mariners’ digs have held up pretty well -- even when their roster hasn’t.

 (AP Photo/Ted S. Warren)

6.. Petco Park, San Diego Padres

Fun fact: An old candy factory building was physically moved to make room for the stadium. 

(AP Photo/Lenny Ignelzi)

5. Fenway Park, Boston Red Sox

Relax, Fenway is definitely an amazing place to watch a game. But sitting directly behind a pole and/or facing the left-center field wall just isn’t always appealing.


4. Wrigley Field, Chicago Cubs

We’re glad the Cubs decided to keep their old home intact, but there’s no two ways about it: Until renovation is complete, Wrigley is a dump.

(AP Photo/Charles Rex Arbogast)

3. PNC Park, Pittsburgh Pirates

After two decades under .500, the Pirates are finally playing some winning ball again. Good thing, because their park deserves as many games as possible.

 (AP Photo/Gene J. Puskar)

2. Oriole Park at Camden Yards, Baltimore Orioles

Still as beautiful as the day it opened in 1992, Camden Yards is headed toward becoming the next legendary American ballpark. 

(AP Photo/Matt Rourke)

1. AT&T Park, San Francisco Giants

Already 15 years and three names later, AT&T Park remains the best place to watch a Major League Baseball game. Between the amazing food, packed-out stands and the glistening bay in right field, San Francisco is lucky to call it home. 

(AP Photo)


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