Bobby Bonilla Day has specific relevance to the NFL this year

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After Cam Newton signed a contract with the Patriots that pays him a base salary of the veteran minimum, some pointed out that veteran journeyman Chase Daniel will make more this year than Newton and Saints quarterback Jameis Winston combined. There’s another intriguing sports-world comparison that arises today, July 1, commonly known as Bobby Bonilla Day.

Every July 1 since 2011 and until 2035, Bonilla will receive $1.19 million from the New York Mets. As noted by Josh Rowntree of 93.7 The Fan in Pittsburgh, and as passed along by long-suffering Mets/Jets/Knicks/Islanders fan and PFT Live coordinating producer Matt Casey, that’s more than Newton’s base salary of $1.05 million and Winston’s $950,000 base salary.

Chris Bumbaca of USA Today explains the decision to defer payments to Bonilla for so many years. The annual payments, based on eight-percent interest, flowed from the fact that the Mets planned to take the principal owed to Bonilla and invest it in a fund that was generating an even higher annual return. The only problem with that approach? The fund was operated by Bernie Madoff.

Bonilla is now 57. The annual $1.19 million payment will continue until he’s 72.

11 responses to “Bobby Bonilla Day has specific relevance to the NFL this year

  1. We haven’t had anyone busted for a Ponzi scheme recently, seems like the time might be right for another one of those situations to be called out.

    I am sure there’s been plenty of mischief going on behind the markets in 2020.

  2. I will remember bonilla as one of Pittsburghs killer B’s. Lol I will also remember his locker room interview when a reporter irritates him and tries to stir things up and his response was(in a very calm manner)”maaaan, get the f@#$ outta here”. Theres a little more to it than just that, but for me that was a classic. Right up there with ryan leaf and Jim mora.

  3. Smart! I love it. More players should spread their contracts out over the years so they don’t end up broke 3 years after their careers are over.

  4. Bobby Bonilla day should be a national holiday. This brings a smile to my face every year. What a brilliant contract for Bobby Bo!

  5. bostonblows says:
    July 1, 2020 at 8:52 am
    We haven’t had anyone busted for a Ponzi scheme recently, seems like the time might be right for another one of those situations to be called out.

    I am sure there’s been plenty of mischief going on behind the markets in 2020.

    ————————————————————————

    Ponzi schemes are run out of private equity firms that dont have to report financials. Your comment displays a lack of knowledge and im suprised anyone even upvoted it.

  6. It reminds you of the contract negotiated by the Silna brothers that owned the Spirits of St. Louis of the old ABA. If you aren’t familiar, give it a look up. They’ve been taking a percentage of the Nets, Pacers, Spurs, and Nuggets TV money for over 40 years and still counting!!

  7. Is Steve Young still getting a million a year from his ‘personal services’ contract via the USFL? That was $40 mill over 40 years.

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