It's good to be Bobby Bo.
'Towards the end of his career Bobby's star was burning out and he was caught playing cards in the Mets dugout with a fellow player while the team was losing the final game of the National League Championship Series. Months later Bonilla met with management to discuss his contract. Although they wanted to part ways, the Mets still owed him $5.9 million for one more year. That's when things turned in Bonilla's favor.
With two children to put through college and retirement to pay for, the 36-year-old ball player negotiated what has turned out to be one of the most forward-thinking contracts in sports history. Instead of taking a lump sum, which is what most financial advisers would suggest you do, Bobby and his agents offered the Mets another deal. The team would release him to play for another franchise and they would delay the $5.9 million payment for 11 years with interest. Essentially the Mets agreed to pay Bobby Bonilla a delayed total of $29.8 million in 25 annual installments of $1.192 million starting on July 1, 2011.
Today, the 52-year-old is on the eve of July 1st, what has unofficially become Bobby Bonilla Day and another big $1.2 million payday from the Mets. They will continue making his lovely direct deposits until 2035, when Bobby is 72.
Perhaps the next time we buy a lottery ticket and we're asked that question of equal payments or lump sum we'll remember Bobby Bonilla and remember the man who is winning at life. Happy Bobby Bonilla Day!'
