Bobby Bonilla

Bobby Bonilla

Why July 1 is known as Bobby Bonilla Day

The Mets deal explained: July 1 is likely a happy day in the life of retired baseball star Bobby Bonilla and perhaps a frustrating one for the New York Mets payroll department.

Each year on July 1, Bobby Bonilla receives a hefty paycheck from the New York Mets as part of a unique deferred payment arrangement. This deal, negotiated in 2000, allows Bonilla to receive annual payments of over $1 million until 2035, despite retiring from baseball years earlier.