Bobby Bonilla Still Gets Paid: Inside MLB’s Most Famous Deferred Contract
Introduction
It’s July 1, and for baseball fans—especially those of the New York Mets—that means just one thing: it’s Bobby Bonilla Day. Even though Bobby Bonilla retired in 2001, he still gets paid a staggering $1.2 million every July 1 by the Mets. The story behind this long-running payment plan is one of sports, finance, and an infamous Ponzi scheme.
Why Bobby Bonilla Still Gets Paid in 2025
Bonilla last played for the Mets in 1999 and officially retired in 2001 with the St. Louis Cardinals. However, thanks to a savvy contract negotiated by his agent Dennis Gilbert, Bonilla receives $1,193,248.20 every July 1 from 2011 through 2035—a total payday of nearly $29.8 million.
The original sum the Mets owed Bonilla was just $5.9 million, but they agreed to defer payments with 8% annual interest. The result? One of the most iconic and debated contract decisions in sports history.
The Role of Bernie Madoff and Fred Wilpon
So, why did the Mets agree to such a deal?
The answer lies in the failed investments of then-owner Fred Wilpon, who had entrusted team funds to Bernie Madoff, the mastermind behind the most notorious Ponzi scheme in U.S. history. Wilpon believed Madoff’s promised returns would far outpace the cost of deferring Bonilla’s contract.
Instead, Madoff’s empire collapsed. And with it, Wilpon’s plan backfired—leaving the Mets on the hook for decades of guaranteed payments to Bonilla.
Deferred Payments in MLB: Not Just Bonilla
While Bobby Bonilla still gets paid is the most well-known case, deferred payments are common in Major League Baseball, especially with mega-deals signed in recent years.
Shohei Ohtani’s Deferred Deal
- Contract: $700 million over 10 years
- Deferred Amount: $680 million
- Annual Salary Received: $2 million from 2024–2033
- Deferred Payouts Begin: 2034 through 2043 at $68 million/year
The Los Angeles Dodgers used a deferred structure to build a super-team while managing salary cap implications. Other players like Blake Snell and Tommy Edman signed similar contracts.
The Origin of Deferred Pay: The Dolgoff Plan
The concept of deferred contracts began in the 1960s with the Dolgoff Plan, named after accountant Ralph Dolgoff. He helped ABA teams compete with the NBA by offering players long-term financial security, even if immediate salaries were lower.
The plan was simple: offer players smaller payments now in exchange for bigger, consistent payouts in the future. Bonilla’s deal popularized it in baseball, but it has become a financial strategy used across multiple sports.
Why Bonilla’s Deal Is Legendary
Bonilla’s contract became a symbol of smart negotiation and financial planning. While many mocked the Mets, his agent turned a $5.9 million buyout into a nearly $30 million retirement plan.
More importantly, Bobby Bonilla still gets paid because the Mets believed they could earn more through Madoff’s “guaranteed” returns. The gamble failed—and Bonilla continues to benefit.
Conclusion
Every July 1, the internet erupts with memes and laughter—but Bobby Bonilla is the one who’s truly winning. His deal proves that with smart negotiation and a little financial luck (or misfortune for the team), players can create generational wealth long after they’ve stepped off the field.
And with stars like Ohtani following in his footsteps, Bobby Bonilla Day won’t be baseball’s last celebration of deferred money magic.
FAQs
Q1: Why does Bobby Bonilla still get paid by the Mets?
A: The Mets deferred a $5.9M buyout in 2000, agreeing to pay $1.2M yearly from 2011 to 2035 with interest.
Q2: How much will Bonilla earn in total?
A: He will receive around $29.8 million in total from the deferred contract.
Q3: Is Bobby Bonilla the only MLB player with deferred payments?
A: No. Many players, including Shohei Ohtani, have large deferred contracts.
Q4: Who was responsible for the decision to defer Bonilla’s payment?
A: Then-owner Fred Wilpon and Bonilla’s agent Dennis Gilbert negotiated the deal, influenced by Wilpon’s investments with Bernie Madoff.
Q5: When does Bonilla’s payment plan end?
A: It ends in 2035, when Bonilla will be 72 years old.
