Bobby Bonilla famously deferred his $5.9 million salary from his playing days into an annuity deal with the Mets, and that structure still generates payments today. Many fans wonder whether Bonilla actually still receives money from that infamous contract in the present day.
Below is a detailed snapshot of how the Bobby Bonilla payment schedule works, how much he is paid each year, and how the deal compares to what he would have received without the annuity.
| Year | Annual Payment | Payment Type | Notes |
|---|---|---|---|
| 2011 | $1,193,248.10 | Annuity installment | First scheduled payment under the contract |
| 2024 | $1,193,248.10 | Annuity installment | Ongoing annual payout at original terms |
| 2035 | $1,193,248.10 | Annuity installment | Final scheduled payments continue |
| Lifetime total | $42,093,720 | Cumulative annuity value | Sum of all payments at 12% annual returns |
The Bobby Bonilla Deal Mechanics
How the contract was structured
In 2000, the Mets owed Bobby Bonilla $5.9 million for back salary. Instead of paying it outright, they negotiated a deferred compensation plan with financial manager Miles Prentice. The deal called for 25 annual payments of $1,193,248.10 starting in 2011, backed by an annuity earning 12% annual returns.
Why the number 12% matters
The 12% figure is central to the arrangement because it was the assumed investment return used to calculate the payment schedule. If the actual investments performed differently, the overall payout to Bonilla would shift, but the nominal payment remained fixed at $1,193,248.10 per year.
Actual Payments Over Time
Payment consistency and longevity
Each year from 2011 onward, Bonilla has received the same six-figure sum, and the schedule is designed to run for decades. The predictability of the deal makes it easy to track, even as market conditions change around it.
| Period | Payments Made | Remaining Years | Cumulative Paid |
|---|---|---|---|
| 2011-2020 | 10 installments | 15 | $11,932,481 |
| 2021-2024 | 4 installments | 11 | $4,772,992 |
| 2025-2035 | 11 scheduled | 0 | $13,125,729 |
Financial Impact Compared to Cash
What he would have received without the deal
If the Mets had paid the $5.9 million in cash in 2000 and Bonja invested it himself at a conservative 7% annual return, he would have accumulated roughly $20-22 million by 2035. The annuity route, while stable, likely delivers lower lifetime wealth under typical market assumptions.
Why the Mets accepted the structure
Spreading the liability over many years helped the team manage payroll and cap pressures in the short term. For Bonilla, the tradeoff was giving up potential market upside in exchange for guaranteed, long-term income.
Key Takeaways
- Bonilla receives a fixed annual payment of $1,193,248.10 from the Mets.
- The payment schedule runs through 2035 with consistent amounts each year.
- The original 12% return assumption is central to the payout structure.
- Compared to investing the cash lump sum, the annuity likely yields lower total lifetime value.
- Such long-term deferred contracts are uncommon in modern professional sports.
FAQ
Reader questions
Does Bobby Bonilla still get paid in 2024 and beyond?
Yes, he continues to receive annual payments of $1,193,248.10, and these are scheduled to run through 2035 as originally defined in the deferred compensation agreement.
Is the Bobby Bonilla payment tied to investment performance?
No, the annual amount is fixed by contract and does not change with market returns, interest rates, or team revenue, even though the underlying investments were intended to generate the 12% annual return.
How much total money will Bobby Bonilla receive under this deal?
Across all 25 payments, the cumulative value reaches $42,093,720 when calculated using the 12% assumed return specified in the original agreement.
Could the deal have been structured differently if negotiated today?
Yes, modern accounting rules, tax treatments, and collective bargaining expectations make similar long-term deferred deals rare, and teams would likely handle such obligations very differently now.