What is Bobby Bonilla Day? Why New York Mets have to pay retired MLB star $1 million every year on July 1st

Happy Bobby Bonilla Day! Every July 1, baseball's richest team, the New York Mets, write a check for $1,193,248.20 addressed to a man named Bobby Bonilla. Despite not having suited up for the team in nearly 25 years, Bonilla's checks will keep coming through 2035.

After signing out of high school with the Pittsburgh Pirates in 1985, Bonilla's MLB credentials were soon laid bare for all to see. After a brief stint in Chicago, Bonilla came back to Pittsburgh, hitting .300/.351/.481 with 15 home runs and 70 RBIs in his rookie season of 1987.

Between 1987 and 1991, Bonilla solidified himself as one of the league's best. In that time span, the utility man hit .287 with 113 home runs and 483 RBIs, leading the MLB in extra-base hits in 1990, and in doubles in 1991.

"To properly celebrate Bobby Bonilla Day, here’s a home run he hit for the #Mets on #OpeningDay 1993" - MLB Daily Dingers

In late 1991, the New York Mets signed Bonilla to a massive deal worth $29 million over five seasons. His annual contract value of $6.1 million made him the highest-paid player in the league between 1992 and 1994.

However, Bonilla was not on top of the world forever. His high-profile run-ins with New York media slowly led the team to view his presence as a liability, and he was shipped off to the Baltimore Orioles in a 1995 trade.

After bouncing around the league for a few seasons, Bonilla once again found himself a member of the New York Mets in 1998. His play in the 1999 season was atrocious. A .160 hitter by season-end, Bonilla reportedly sat in the clubhouse and played cards with Ricky Henderson during the Mets' 1999 NLCS postseason loss to the Atlanta Braves.

After 1999, Bobby Bonilla emerged from the 1999 season having hit just .160 with 4 home runs and 18 RBIs. When the Mets moved to release him, Bonilla and his agent came back with a counter offer.

"Before we start dedication day, today is July 1st, so happy Bobby Bonilla day. Another $1.19M from the Mets" - Baseball History Nut

They would defer payment for a decade, then the Mets would pay him approximately $1.19 million every season from 2011 until 2035, hence why July 1 is Bobby Bonilla Day, a tradition thoughtfully carried forward to current Mets GM, Billy Eppler.

Bobby Bonilla Day is a warning to the current stacked Mets roster

The Mets will be shelling out $359 million on their players this season, as such, there is plenty of margin for payroll error. Just two pitchers, Max Scherzer and Justin Verlander, are set to make more than some teams have in their entire payroll.

By studying the case of Bonilla, the Mets may be able to ensure that they do not end up in a position where they will need to pay their big-name guys long into their retirement.