What is Bobby Bonilla's Net Worth, Contract, Salary, and Career Earnings?
Bobby Bonilla is a retired American baseball player with a net worth of $20 million. Over his 16-year Major League Baseball career, he earned a reputation for his strong performance, maintaining a .279 batting average, a .358 on-base percentage, and a .472 slugging percentage. His career highlight was winning the 1997 World Series with the Florida Marlins. He also led the league in extra-base hits during the 1990 season and doubles in 1991, participated in six MLB All-Star Games, and won three Silver Slugger Awards.
Early Life
Born on April 9, 1963, in The Bronx, New York, Bobby Bonilla showed talent in baseball during his high school years. After being overlooked in the 1981 Major League Baseball draft, he attended the New York Institute of Technology for a computer science degree. However, he was soon noticed by the Pittsburgh Pirates and joined their farm system after just one semester.
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Success
Bonilla's career almost ended prematurely in 1985 due to a broken right leg, but he joined the Chicago White Sox a year later, making his MLB debut shortly thereafter. The Pittsburgh Pirates reacquired him, transitioning him from third baseman to right field due to errors. Teaming up with stars like Barry Bonds and Andy Van Slyke, Bonilla helped the Pirates win several National League East Division titles and became one of the league's top batters, winning multiple Silver Slugger Awards.
In the early '90s, Bonilla signed with the New York Mets, becoming the highest-paid player at the time with a 5-year, $29-million contract, equivalent to about $55 million today. Despite the high salary, his performance deteriorated, leading him to play for various teams like the Baltimore Orioles, the Florida Marlins, and the Los Angeles Dodgers before returning to the Mets in 1998. His second stint with the Mets was disappointing, culminating in an infamous moment where he played cards with Rickey Henderson during a Mets' loss in 1999. This led to his famous deferred payment contract.
He ended his career with the Atlanta Braves and the St. Louis Cardinals, officially retiring in 2001 due to injuries and reduced playing time.
Career Earnings
Bonilla earned $52 million in salary throughout his 15-year playing career across seven teams. His 1992 contract with the Mets made him the highest-paid MLB player at the time. Despite retiring in 2001, his last contract with the Mets entitles him to nearly $1.2 million annually for 25 years, starting in 2011 and ending in 2035. Additionally, he receives $250,000 yearly from a deal struck with the Mets in 1994, making him one of the highest-paid players on their payroll despite his long retirement.
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Bobby Bonilla's Famous Contract
Bonilla's deferred payment contract with the Mets ensures he receives $1.2 million annually until 2035. This agreement stemmed from a compromise where the Mets, owing Bonilla $5.9 million in 2001, agreed to a 28-year payout totaling $29.8 million. This savvy financial move means Bonilla will be paid through his 72nd birthday. Additionally, an earlier contract from 1994 also provides him with annual payments of $250,000, adding to his financial security.
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The Bernie Madoff Connection
The Mets agreed to Bonilla's deferred payment plan because their finances, managed under owner Fred Wilpon, were heavily invested with Bernie Madoff, yielding high returns. They projected making a profit by deferring Bonilla's payment, but Madoff's Ponzi scheme eventually caused significant financial losses, leaving the Mets obligated to pay Bonilla through 2035.
Real Estate
In 1992, Bonilla purchased land in the Round Hill Historic District of Greenwich, Connecticut, for $1.9 million, where he built a house. He attempted to sell the property for $7.5 million in 2010 but ultimately accepted $5 million in 2011.
