The Margin: On Bobby Bonilla Day, here are some other retired baseball players who receive huge deferred payments annually

by | Jul 1, 2022 | Stock Market

“Bobby Bonilla Day” was trending on Twitter on Friday as it does every year on July 1. That’s because it marks the annual date when the former New York Mets player receives $1.2 million from the team, despite being retired for over a decade. Bonilla’s agent, Dennis Gilbert, orchestrated a contract payout for the third baseman that will pay him $1.2 million every year from 2011 until 2035. Bonilla was originally owed $5.9 million from the Mets in 2000, but the new deal pays him over $1 million annually, plus an additional 8% interest, according to ESPN.

Then-Mets owner Fred Wilpon was invested in a Bernie Madoff account at the time and reportedly believed he would be making significant returns in the future. Obviously, that did not happen as Madoff’s hedge fund eventually dissolved after it was revealed to be a Ponzi scheme. See also: Fernando Tatis Jr.’s $340 million contract will be shared with a firm that invested in him when he was a teenager Bonilla, now 58, is not the only retired baseball player who has a lucrative deferred payment agreement with a sports franchise. Here are some other athletes who also receive large deferred payments from teams they no longer play for:
Manny Ramirez is currently on a 16-year, $32 million deferment contract from MLB’s Boston Red Sox. Ramirez last played for the Red Sox in 2008 and will be paid until 2025.

Ken Griffey Jr. receives $3.59 annually from MLB’s Cincinnati Reds. Griffey last played for the Reds in 2008 and will continue to get paid until 2024.

Todd Helton will get $1.3 million from MLB’s Colorado Rockies annually until 2023. Helton is in the midst of a 10-ye …

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