The retired MLB player is set to receive nearly $1.2 million from the New York Mets on Wednesday, even though he last played for the team in 1999, ESPN reported. It was during that year that the Mets, seeking a buyout of Bonilla, offered to pay him the remaining $5.9 million left on his contract.
But instead of paying Bonilla the money in one lump sum, the Mets agreed to pay him nearly $1.2 million every year for 25 years starting July 1, 2011, according to the outlet. The amount would also include 8 percent interest.
According to CNN, Mets owner Fred Wilpon believed he was making a sound financial decision because he was instead going to use the money owed to Bonilla to invest with Bernie Madoff — who later was revealed to be running a Ponzi scheme. The Mets did not immediately return PEOPLE’s request for comment.
CNN estimates 57-year-old Bonilla will earn $29.8 million by the time the Mets finish paying him in 2035 when he’s 72.
The Mets’ annual July 1 payment to Bonilla have led to baseball fans jokingly referring to the date as “Bobby Bonilla Day.
The Mets honored the 1969 World Championship team with a 40-year anniversary celebration at Citi Field in 2009. The New York crowd welcomed Tom Seaver back with open arms. The legendary pitcher became an icon in the city with a career that included Rookie of the Year, three Cy Young Awards, and of course, a starring role on that “Miracle Mets” 1969 team.
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