Bobby Bonilla’s notorious payment plan from the Mets which will pay him until 2035 is ridiculously bad, but new documents show it is worse than originally thought.
In a report by CBSSports.com, Bonilla also signed a payment plan with the Mets which will pay him $500,000 a year for 25 years in addition to the $1.9 million a year he is already receiving every year from 2011-2035.
The third baseman, who was a Met from 1992-1995 and again in 1999, was released from the team who still owed him $5.9 million. Because Bonilla needed to be removed from the books so the Mets could sign another player, they reached an agreement to pay him $1.19 million a year from 2011-2035.
The annual payment is made every July and will pay Bonilla $29.8 million over 25 years, which escalates to over $42 million with the new deferred payment plan that was found.
Bonilla isn’t the only Met cashing in. Brett Saberhagen’s lesser known deal pays him over $6 million ($250,000 a season for 25 years), and that began in 2004.