These Former Major League Baseball Players Haven’t Played In Years But Still Make More Money Than Many Active Players
Major League Baseball contracts are oftentimes confusing. There are guaranteed contracts, non-guaranteed contracts, and split contracts, as well as performance bonuses for achieving certain stats plateaus. Arguably the most peculiar agreements however, are what are known as deferred contracts. For various reasons that are oftentimes favorable to the organization, a player signs and gets paid a substantial amount of the money owed to him well after his contract has ended.
From the player’s perspective, he gets guaranteed income well after his playing days are over, thus ensuring his future even if he makes poor financial decisions during his playing days. And from the team’s perspective, they get present-day flexibility to build a winner on the field. Sounds like a win-win, right? Well, while some of these deferred contracts have benefitted both the team and the player, other times, it’s clear that one side got the short end of the stick…
Bobby Bonilla Day
July 1st is unofficially known as “Bobby Bonilla Day” by sports fans. Bonilla’s contract stands out as the most lopsided deferred contract in the history of sports. Every July 1st from 2011 through 2035, he collects $1,193,248.20 from the New York Mets.
Oddly enough, Bonilla hasn’t played for the Mets since 1999. In fact, he last played professionally in 2001, yet he’s still getting paid more annually than a lot of players breaking into the big leagues today.