It’s July 1st, not nearly as significant a day as July 4th, unless of course your name is Bobby Bonilla. It’s time for the Mets to cut that annual payroll check in the amount of $1,193,248.20 for their two-time former outfielder.
It’s all part of the agreement the Mets made to pay Bonilla that $1.2 million sum annually on July 1 for 25 years rather than the $5.9 million he was owed when the Mets decided to buy him out after his second ill-advised tour of duty with the team.
“The agreement called for deferred payments at an 8 percent annual interest rate. At the time, Mets ownership did not mind that interest rate because their investments with Bernie Madoff were returning comfortably more than that figure.” (ESPN NY)
Bonilla only played in 60 games in 1999 and batted .160 with a .520 OPS in 119 at-bats to earn his huge haul. All told, Bonilla’s total payout for that season will come to $29.3 million dollars, and that’s not counting the $7.5 million the Mets also owe him from the buyout of his first stint with the Mets.
