In 1991, Bobby Bonilla signed a contract with the New York Mets that was lucrative at the time and has only proven to be more so with time. Bonilla will receive $1.19 million each year through 2035, at which time he will be 72. You’d think that this would be a relatively singular phenomenon — and that the same kind of contract wouldn’t be in play (no pun intended) from the same team. But history has a way of repeating itself — even in baseball.
As ESPN reports, the Mets’ contract with pitcher Edwin Diaz includes $26.5 million worth of deferred payments. Those aren’t scheduled to be completed until 2042.
The contract is worth $102 million and covers five years. Diaz is set to receive $17.25 million for each of the next two seasons, which will increase to $17.5 million for 2025. At the end of that season, he can choose to exercise an option for the last two years, during which time he will make $18.5 million per season.
The deferred payments only come into play if the Mets don’t exercise their option for 2028. If they do so, he would receive $17.25 for the season, with the option of a $1 million buyout. With this deal, the Mets are making a big investment in their bullpen; let’s hope their accounting department is also well taken care of.
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