Bobby Bonilla’s famous deferred contract agreement with NY Mets
Bobby Bonilla’s famous deferred contract agreement with NY Mets sells at auction for $180,000. Bonilla’s infamous deferred salary agreement with the New York Mets is paying off in more ways than one. The deferred salary agreement, an addendum to Bonilla’s original contract with the Mets, sold at auction Saturday night for $180,000. While the bidding increased over $150,000 in the final hours of the auction.
Bobby Bonilla’s Career
Roberto Martin Antonio Bonilla, born February 23, 1963, is an American former professional baseball third baseman and outfielder who played in Major League Baseball from 1986 to 2001. Bonilla was one of the Major League’s best batters and overall top players in the late 1980s and early 1990s with powerful hitting strength, as well as a part of the highly successful and pennant contending Pittsburgh Pirates organization around the same time.
The contract has been in the possession of Dennis Gilbert, the agent who brokered the deferred salary arrangement, since signing, Per Goldin Auctions. In addition to the contract addendum itself, the winner of the auction will also receive the following:A 30-minute Zoom meeting with Bonilla and Gilbert.
A signed baseball, a game-used bat from Bonilla’s personal collection, and an exclusive NFT of the contract. A day with Bonilla in New York, including breakfast, a trip to Citi Field for a batting practice and a game, and dinner.
Since 2011, the Mets have paid Bonilla an annual $1,193,248.20 deferred salary payment on July 1. And will continue to do so through 2035. The payments stem from Bonilla’s $5.9 million salary in 2000.
The Mets released him that January, and because ownership believed they would make a significant profit through their investments with Bernie Madoff. They agreed to defer Bonilla’s salary with 8 percent interest. And spread it across 25 years from 2011-35. The $5.9 million swelled to $29.8 million.
A Bonilla’s Day
July 1 has come to be known as Bobby Bonilla Day. And while the Mets have often been mocked for the deferred salary agreement, new owner Steve Cohen has embraced it. He’s even suggested inviting Bonilla to Citi Field each year and presenting him with an oversized novelty check.
Bonilla is hardly the only former big leaguer collecting deferred salary. In fact, Mets co-ace Max Scherzer will get $15 million in deferred salary each July 1 from 2022-28. Stemming from his previous contract with the Washington Nationals.
Previously, Bonilla signed with the New York Mets during the 1991-92 offseason. Becoming the highest-paid player in the league at the time. Earning more than $6 million per year. However he struggled to live up to expectations with the Mets (which made the contract the subject of much criticism). And throughout the rest of his career. He earned two additional All-Star appearances and helped the Florida Marlins win the 1997 World Series. Through his 16 years in professional baseball, Bonilla accumulated a .279 batting average. With a .358 on-base percentage and a .472 slugging percentage
