Bobby Bonilla Day marks another million dollar check for former Mets player
NEW YORK — The first of July marks the day a former New York Mets baseball player gets a million dollar check, despite not playing since 2001.
The Mets wanted to cut former player, Bobby Bonilla, in 2000 — but still owed him nearly $6 million. Instead of giving him all of his money at once, the Mets agreed to make annual payments of nearly $1.2 million over the course of three decades, from 2004 to 2035.
This day every year became known as Bobby Bonilla Day.
The deal includes an extra 8% annual interest which increases his payout to $30 million.
The Mets thought they would make up for this by investing the deferred payments in one account they had with money manager, Bernie Madoff. However, in 2008 Madoff confessed to being the operator of one of the largest Ponzi schemes in world history.