What is Bobby Bonilla Day and why the former MLB star gets paid every July 1 | Explained

Every July 1, Bobby Bonilla receives nearly $1.2 million from the Mets due to a unique contract buyout.

Every July 1, baseball fans mark an unusual annual moment known as Bobby Bonilla Day, when former MLB player Bobby Bonilla receives a payout from the New York Mets, despite not having played for the franchise in over two decades.

Each year on July 1, Bonilla receives the same payment. (Wikimedia Commons)

In 2026, Bonilla, now 63, received a payment of $1,193,248.20 from the Mets, continuing a contract arrangement that runs each July 1 from 2011 through 2035, according to ESPN.

What is Bobby Bonilla Day?

“Bobby Bonilla Day” refers to the annual date when Bonilla collects his deferred salary payments from the Mets.

Each year on July 1, Bonilla receives the same payment, making the date a recurring point of attention for fans and analysts alike.

The arrangement dates back to a contract buyout in 2000.

According to ESPN, the Mets owed Bonilla $5.9 million at the time. Instead of paying him immediately, the team agreed to defer the payment. Under the revised structure, Bonilla would receive annual payments of nearly $1.2 million starting in 2011, continuing for 25 years.

The deal also included an 8% interest rate, which significantly increased the total payout over time.

At the time the agreement was made, Mets ownership had financial exposure tied to investments connected to financier Bernie Madoff, whose later collapse revealed one of the largest Ponzi schemes in history.

Those expectations of high returns ultimately did not materialize, and the deferred payment deal became one of baseball’s most famous financial decisions.

How long will the payments continue?

Bonilla is scheduled to continue receiving payments every July 1 until 2035, when he will be in his early 70s.

The agreement ensures long-term payouts rather than a single lump-sum settlement.

While Bonilla’s deal is the most well-known example, deferred payments are not unique in Major League Baseball.

ESPN reported several similar arrangements across the league, including:

• Max Scherzer, who is set to receive deferred money from the Washington Nationals through 2028
• Manny Ramírez, who continues to receive payments from the Boston Red Sox through 2026
• Chris Davis, whose Orioles deal includes deferred payments stretching into the 2030s

These structures are sometimes used by teams to manage payroll flexibility and competitive balance tax obligations.

How does it compare to modern MLB contracts?

Deferred money has become more prominent in recent years, especially in high-value contracts.

For example, Shohei Ohtani’s deal with the Los Angeles Dodgers includes a heavily deferred structure.

According to ESPN, Ohtani will earn $2 million annually during the contract term, with the majority of his earnings, $68 million per year, paid from 2034 to 2043.

Unlike Bonilla’s buyout arrangement, Ohtani’s contract was structured proactively as part of free agency negotiations to give the Dodgers short-term payroll flexibility.