Bobby Bonilla’s Net Worth

Bobby Bonilla, a retired American baseball player, has an estimated net worth of $20 million. He rose to fame in Major League Baseball (MLB), playing for several teams from 1986 to 2001. Over his 16-year career, Bonilla achieved a .279 batting average, a .358 on-base percentage, and a .472 slugging percentage. One of his career highlights includes winning the 1997 World Series with the Florida Marlins. He also led the league in extra-base hits in 1990 and doubles in 1991, participated in six MLB All-Star Games, and won three Silver Slugger Awards.

Early Life

Bobby Bonilla was born on April 9, 1963, in The Bronx, New York. He developed his baseball skills during high school and graduated in the early 1980s. After going undrafted in the 1981 Major League Baseball draft, he enrolled at the New York Institute of Technology to pursue a degree in computer science. However, his baseball talent was recognized by the Pittsburgh Pirates after just one semester, and he soon began his professional journey through their farm system.

Bobby Bonilla Career

Bonilla’s promising career faced a major setback in 1985 when he broke his right leg during training. Nevertheless, the Chicago White Sox signed him the following year, and he made his MLB debut shortly after. Later that year, the Pirates reacquired him, and he initially played as a third baseman. However, due to several errors, Bonilla was moved to right field. He played a key role in the Pirates’ success alongside stars like Barry Bonds and Andy Van Slyke, helping the team win several National League East Division titles. During this period, Bonilla emerged as one of the league’s top batters, earning multiple Silver Slugger Awards.

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In the early 1990s, after becoming a free agent, Bonilla signed a five-year, $29 million contract with the New York Mets, making him the highest-paid player in MLB at the time. Adjusted for inflation, this contract would be equivalent to about $55 million today. Unfortunately, his performance with the Mets did not match his high salary, and his statistics declined. He went on to play for the Baltimore Orioles, Florida Marlins, and Los Angeles Dodgers before returning to the Mets in 1998.

Bobby Bonilla Salary

During his 15-year MLB career, Bobby Bonilla earned approximately $52 million in salary from seven different teams. His lucrative 1992 contract with the Mets made him one of the highest-paid athletes globally at the time. Bonilla retired in 2001, but his contract with the Mets includes a unique deferred payment arrangement, which entitles him to nearly $1.2 million annually for 25 years, starting in 2011 and ending in 2035. Additionally, he receives $250,000 per year from a deal made with the Mets in 1994, totaling $1.45 million annually. Remarkably, despite retiring over two decades ago, this arrangement makes him one of the highest earners on the Mets’ payroll today.

The Bobby Bonilla Contract

Even though Bonilla retired from professional baseball in 2001, the New York Mets have been paying him nearly $1.2 million every year since 2011 and will continue to do so until 2035. This annual payment, officially $1,193,248, stems from a 2001 agreement when Bonilla was an aging player with $5.9 million remaining on his contract. To free up a roster spot, the Mets considered releasing him, but Bonilla proposed a deferred payment plan. Instead of the $5.9 million payout in 2001, the Mets agreed to pay him $29.8 million over 28 years, starting in 2011. This deal ensures that Bonilla receives $1.2 million annually for 25 years, with the final payment scheduled for his 72nd birthday in 2035.

Interestingly, this was not Bonilla’s first deferred payment contract with the Mets. In 1994, the Mets deferred $3 million of a $6 million contract, agreeing to pay him $250,000 annually over 25 years, starting in 2003. Consequently, Bonilla’s annual income from these deferred contracts is closer to $1.4 million.

Fans are divided on whether this was a smart move by the Mets or a financial win for Bonilla. Regardless, this unique arrangement has become a notable piece of baseball history, with July 1st often celebrated as “Bobby Bonilla Day” by fans.

The Bernie Madoff Connection

Why did the Mets agree to such a deal? At the time, the Mets’ finances, managed by owner Fred Wilpon, were heavily invested with Bernie Madoff, who was believed to generate consistent double-digit returns. The Mets calculated that even with an 8% return, they could profit significantly from the deferment, projecting a $60 million gain. Ironically, this amount is nearly double the $29.8 million payout to Bonilla. Unfortunately, Madoff’s investment scheme turned out to be a Ponzi scheme, costing Wilpon $700 million personally. Nonetheless, the Mets remain committed to Bonilla’s deal until 2035, underscoring the effectiveness of Bonilla’s retirement planning.

Real Estate Ventures

In addition to his baseball earnings, Bobby Bonilla has also invested in real estate. In 1992, he purchased land in the Round Hill Historic District of northeastern Greenwich, Connecticut, for $1.9 million, where he built a house. He later attempted to sell the property for $7.5 million in 2010 but accepted a lower offer of $5 million in 2011.

Bobby Bonilla Net Worth

Bobby Bonilla net worth is $20 million.