This MLB Star Hasn’t Played for 2 Decades but Makes $1.2 Million a Year. The Mets Have Bernie Madoff to Blame

MLB Star Bobby Bonilla Still Rakes in $1.2 Million Annually, Blames Mets’ Ties to Bernie Madoff

Bobby Bonilla, a former MLB player who retired two decades ago, is still earning a staggering $1.2 million per year. The New York Mets find themselves in a peculiar situation, with Bernie Madoff playing a surprising role in Bonilla’s ongoing payday.

Bonilla, who last played for the Mets in 1999, has been receiving annual payments since 2011. This arrangement will continue until 2035, ensuring a steady flow of income for the 62-year-old player. The circumstances that led to Bonilla’s extended paycheque trace back to a financial misstep involving Bernie Madoff.

When Bonilla had $5.9 million remaining on his contract with the Mets, the team opted for a unique buyout plan. Instead of a lump sum payment, Bonilla agreed to receive annual instalments over 25 years, starting in 2011. The Mets intended to invest the money earmarked for Bonilla with Madoff, a decision that backfired when Madoff’s fraudulent activities came to light.

Fred Wilpon, the Mets’ owner at the time, believed in the soundness of the investment with Madoff. However, this move led to unforeseen consequences, ultimately benefiting Bonilla financially. Despite not playing, Bonilla will collect a total of $29.8 million from the Mets through this deferred payment scheme.

Deferred payments like Bonilla’s are not unprecedented in professional sports. For instance, current MLB star Shohei Ohtani has a contract with deferrals that will see him receive payments until 2043. Similarly, Max Scherzer, a prominent pitcher, will also enjoy delayed compensation from the Washington Nationals following his trade to the Dodgers.

While these arrangements may seem unconventional, they highlight the complexities of financial agreements in professional sports. Bonilla’s case serves as a reminder of the lasting repercussions of ill-fated investments and contractual decisions.

Looking ahead, as Bonilla continues to benefit from the Mets’ financial mishap, the sports industry remains a fascinating arena where financial strategies can have enduring effects on both players and teams. The legacy of the Bonilla-Mets-Madoff connection serves as a cautionary tale for future financial dealings in professional sports.

As the sports world evolves, stories like Bonilla’s will continue to capture the imagination of fans and industry observers alike. The intersection of sports, finance, and unexpected outcomes underscores the intricate dynamics at play in the realm of professional athletics.

In conclusion, the ongoing saga of Bobby Bonilla’s lucrative deal with the Mets stands as a testament to the enduring impact of financial decisions in sports. Despite not having played for over two decades, Bonilla’s annual windfall serves as a reminder of the interconnectedness of sports, finance, and unforeseen circumstances.