Due to Bernie Madoff, BB receives $1.19 mil on 7/1 since 2011 for doing nothing

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Bobby Bonilla seeing that 1.19 million direct deposit in the morning.

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For those that don't know the deal that happened 20 years ago, here it is in a nutshell.. ...

The origin of Bobby Bonilla Day

The story behind Bobby Bonilla Day is well documented at this point, but if you don’t know it, here goes:

The Mets wanted to get rid of Bonilla and his $5.9 million salary in 2000. Rather than just take a payout, his agent struck a deal that was a bit different: The Mets didn’t have to pay him right away. They could wait 10 years and instead they could pay him $1.19 million for 25 years starting in 2011.

The Mets took it — and here’s a surprising turn — because ownership was getting 10-percent returns on their investments at the time with a guy named Bernie Madoff, meaning they stood to make more money by paying Bonilla in the future. Oops.

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