Every July 1 until 2035, retired New York Mets player Bobby Bonilla gets a check for $1.2 million.
The team will pay him $29 million in total between 2011 and 2035 because he was wise enough to take a yearly pay off with interest instead of a $5.9 million cash buyout back in 2000.
Don Harris explains:
in 2000, The Mets bought out Bobby Bonilla for $5.9mil. Instead of cash they agreed to 8% interest w payments beginning 2011-2035. Today Bonilla got his check. Comes every July 1st. $1.2 Million every year. Adds up to $29 mil when all is said and done. Hasn’t played since 2001.
As of July 1, he’s racked up $9.5 million thanks to the power of delayed gratification.
Bonilla is 55 by the way.
Finesse Legend: Bobby Bonilla Secured Annual $1 Million Bag Until 2035 was originally published on www.globalgrind.com