• by Richard Whitman , Columnist, July 1, 2021

Today is Bobby Bonilla Day, a day that celebrates both the former pro baseball player and the wacky world of deferred salary payments in Major League Baseball. Mint Mobile is joining the Bonilla Day hoopla with a campaign offering potential customers a multidecade deal for phone service -- but more on that later. 

Bonilla hasn’t played in the Big Leagues for 20 years, but the Mets pay him more than $1 million a year — payday is July 1 — as they have done since 2011, and will continue to do through 2035. 

As ESPN.com explained it in a recent column by Dan Mullen, in 2000 the Mets agreed to buy out the remaining $5.9 million on Bonilla's contract but instead of paying him the $5.9 million at the time, the team agreed to make annual payments of nearly $1.2 million for 25 years starting July 1, 2011, including negotiated 8% interest. Part of the strategy there was to maximize the team’s near-term buying power for new talent under MLB’s salary cap rules. 

And at the time, money didn’t seem to be much of an object — the team had invested heavily with Wall Street nogoodnik Bernie Madoff and expected that its cash spigot would be gushing for years to come (oops). 

In any event, Bonilla continues to get paid and Met fans celebrate July 1 as Bobby Bonilla Day. He also has a separate deferred contract lasting decades (the Mets and Baltimore Orioles both chip in) that pays him another $500,000 annually. 

Now Mint Mobile is paying Bonilla as well to participate in a new campaign offering customers their own multidecade deals — 25 years of Mint Mobile service for $100 per year. 

In one ad, Bonilla explains the offer to a woman in a health club. Her response: “Wow, that seems awfully fiscally irresponsible of them.” Bonilla responds “it does,” smiling as he walks away.