The Story of Bobby Bonilla and Some Favorite Cards
In this story:
Every July 1, baseball fans revel in the annual tradition that is known as "Bobby Bonilla Day". The corner infielder/outfielder, who has not played since 2001, receives a $1.19M paycheck from the New York Mets as part of a deferred money deal with the team back in his playing days.
Bonilla came to the Mets prior to the 1992 season after six seasons with the Pittsburgh Pirates in which he slugged 114 home runs. Bonilla had his ups and downs with New York through three and a half seasons from 1992-1995 before being dealt to the Orioles at the 1995 trade deadline.
Bonilla returned to the Mets in 1999 but struggled mightily, hitting just .160 with four home runs in 60 games. While the Mets released him, instead of paying out the final $5.9M of his contract in full at the time, the team and Bonilla agreed to a deferment agreement which would pay him nearly $1.2M every year from 2011-2035.
In the negotiation of the deal, the Mets and Bonilla agreed on an eight percent interest rate. The Mets were satisfied with the higher than hoped for rate due in large part to the team having investments with Bernie Madoff who promised double-digit returns and would have made a large profit before Madoff was arrested and caught in his ponzi scheme.
There is somewhat of a happy ending to the story outside of fans cheering for the annual payout that has occurred for a decade and a half. With the Mets saving money in the 1999 season by not having to payout the remainder of Bonilla's contract at the time, the team acquired pitcher Mike Hampton. While Hampton only pitched one season in a Mets uniform, he was named the 2000 NLCS MVP and helped lead the team to the World Series where they fell to the cross-town rival Yankees in that season's Fall Classic.
Hampton left in free agency to sign a $121M deal with the Colorado Rockies which ultimately landed the Mets a compensatory draft pick in the upcoming 2001 MLB Draft. With that pick, New York selected an 18-year-old David Wright who became a longtime star for the franchise in the years to come.
Bonilla still has some love in the hobby as a result of the story. As recent as late-June, a 1986 Topps Traded Rookie Card in a PSA 10 of Bonilla was selling for $50 with the dual autograph of Bonilla and Barry Bonds shown above selling for over $300. With Bonds finding himself signing again in Topps products during the 2025 yearly cycle, time will tell if Bonilla will find himself back in the hobby at full force.
Dan Gardella is a Red Sox fan and collector growing up in Yankee territory in Connecticut. While only reviving his love for the hobby a few years ago, he provides knowledge into baseball cards from prospects to the big leagues.
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