Bobby Bonilla net worth
What is Bobby Bonilla’s net worth, contract, salary and professional income?
Bobby Bonilla is a retired American baseball player with a net worth of US$20 million. From 1986 to 2001, Bonilla played for multiple teams as a baseball player in Major League Baseball. In these 16 years of his career, Bobby’s average batting rate was 0.279, on base rate was 0.358, and the percentage of heavy hits was .472. The highlight of his career may be winning the World Series with the Florida Marlins in 1997. He also led the league in softball hits in the 1990 season and led the league in doubles in 1991. In addition, Bonilla has participated in 6 MLB All-Star Games and won 3 Silver Rods.
early life
Bobby Bonilla was born on April 9, 1963 in the Bronx, New York. Before graduating in the early 1980s, he grew up playing baseball in high school. After graduating from high school, he was selected in the 1981 Major League Baseball Draft, which prompted him to enter New York Institute of Technology, hoping to obtain a degree in computer science. However, after only a semester, he was finally discovered by the Pittsburgh Pirates, and he worked hard in the team’s farm system.
success
In 1985, when he broke his right leg in training, Bobby’s career may come to an abrupt end. However, the Chicago White Sox picked him up a year later, and he made his major league debut shortly after. The Buccaneers saw his potential and then reacquired him later this year. Although Bonilla started as third baseman, some mistakes caused him to be transferred to the right field. Bobby worked with stars such as Barry Bonds and Andy Van Slack to help the Pirates achieve considerable success, the team won a number of National League Eastern Conference championships.
During this period, he also became one of the league’s leading batsmen, won multiple silver hit awards, and led the league in multiple statistics.
After becoming a free agent in the early 1990s, Bobby was signed by the Mets and became the highest paid player in the league. His contract is a five-year contract worth 29 million U.S. dollars, which is equivalent to about 55 million U.S. dollars today. Unfortunately, Bonilla’s performance did not reach such a high salary rate because his statistics declined after joining the Mets. Before returning to the New York Mets in 1998, Bobby played for the Baltimore Orioles, Florida Marlins and Los Angeles Dodgers for many years.
His last match with the Mets was once again marked by disappointment, and he faced widespread criticism from fans and the media. In the end, Bonilla didn’t seem to care anymore. When the Mets lost to the Braves in 1999, he stayed at the club to play cards with Ricky Henderson. This was highlighted. At this time, he signed a famous contract. The Mets still owed him a $5.9 million contract, and they agreed to defer the payment until 2035 in exchange for annual installments.
Bonilla then spent his final years with the Atlanta Warriors and the St. Louis Cardinals, although at this time he obviously couldn’t replicate the level of success he saw in his early career. In 2001, he officially withdrew from baseball, complaining about injuries and reducing playing time.
Occupational income
In Bonilla’s 15-year career, he earned $52 million in salaries from seven different teams. His 1992 contract with the New York Mets made him the highest paid baseball player in the league and one of the highest paid athletes on the planet. Bonilla withdrew from the game in 2001, but his last contract with the Mets allowed him to earn nearly $1.2 million in 25 years from 2011 to 2035. In 1994, a total of 1.45 million US dollars. To this day, this contract has made him one of the highest paid men in the Mets, even though his career has ended since 2001.
(Photo by Rick Stewart/Getty Images)
Bobby Bonilla’s famous contract
You may be surprised to find that although Bonilla has not played a professional game since 2001, the New York Mets will pay him nearly $1.2 million a year by 2035. Technically speaking, $1,193,248. How can this be?
In 2001, Bonilla was an elderly veteran with a contract of $5.9 million left. The Mets knew he could be cut easily to make room for a roster. At the same time, Bonilla worried that the $5.9 million after taxes and fees would not be enough for his family to live forever, so he made a suggestion to the Metropolitan management.
Bonilla and his agent proposed that instead of paying him US$5.9 million in 2001, they would pay him US$29.8 million in 28 years starting in 2011. This is equivalent to an annual payment of 1.2 million U.S. dollars since Bonilla was 47 years old and 25 years after the long-term disappearance of the baseball field. Bobby will receive the final payment of $1.2 million on his 72nd birthday in 2035.
This is actually not the first interval contract between Bobby and the Mets. As early as 1994, the Mets agreed to pay half of the $6 million they owed him during the 1994-1995 season, about $3 million. Starting in 2003, they will pay $250,000 in installments over 25 years.
So technically speaking, the Mets actually paid him close to $1.4 million a year.
Fans are divided on whether this is really a good idea. Some people think the Mets are wise to accept the deal, while others think that Bobby has left with a better contract. Either way, this is a piece of baseball history and an interesting trivia fact. Many loyal fans now refer to Bobby’s July 1 payday as “Bobby Bonilla Day.”
According to reports, in 2020, Bobby Bonilla is still one of the Mets’ highest paid players-even though he hasn’t played a game since 1999. He will continue to receive these payments until 2035. When you consider the extra year Bobby received a payment of $250,000 due to a contract signed in 1994, it is difficult to see that this might be a bad deal for Bonilla. In fact, financial experts believe that because he chose this deferred payment plan, he will get twice the initial contract amount of approximately $12.5 million.
Bernie Madoff’s connection
Why did the Mets agree to pay more than $5.9 million in fees? Well, the finances of the Metropolitan Organization at the time, under the guidance of owner Fred Wilpen, invested heavily in Bernie Madoff. Therefore, the Mets are used to earning double-digit returns every year. The Mets calculated and calculated that even with an 8% return, they can still earn $60 million in profits through the extension. Over time, US$60 million is almost double the US$29.8 million.
Unfortunately, as everyone knows, Bernie Madoff’s double-digit profit is a huge Ponzi scheme. The plan will eventually cost Wilpon personally 700 million U.S. dollars. But until 2035, they still have to worry about the Bonilla deal. Talk about smart retirement plans!
real estate
In 1992, it was reported that Bobby Bonilla purchased land in the Round Hill Historic District in northeastern Greenwich, Connecticut. He bought the land for $1.9 million and then built a house. In 2010, he tried to sell the property for US$7.5 million, but was forced to accept a much lower offer of US$5 million in 2011.
