Bobby Bonilla Day: Unraveling 2x NBA Champion’s $52.1 Million Deferred Payment With Miami Heat Identical to That of the MLB Legend

Even though Chris Bosh played his last game 8 years ago, the former Miami Heat legend was paid until 2 years ago. The credit for it could be given to the MLB franchise the New York Mets for a decision they made 2 decades ago. The contractual obligation created by the Mets made sure that their former player Bobby Bonilla gets paid until 2035. So before we break down Bonilla’s contract, let’s look at Bosh’s contractual situation.

The 2x NBA champion was a star player for the Miami Heat. The integral part of the Big3 that saw the team lift back-to-back championships. So in 2014, the franchise offered Bosh a maximum contract of $118 million for 5 years. However, he experienced blood clot formation in his body twice in his career which sidelined him from 2016. He tried returning in 2017, but the doctors flagged the injury as life-threatening.

The Miami Heat waived his contract to make space for the salary cap by using the “Bobby Bonilla” method. Bobby Bonilla every July 1st from 2011 to 2035 receives a salary from the Mets franchise. Likewise, the Heat deferred Bosh’s salary from 2017 until November 2022. Bosh obtained 120 times with twice-monthly payments of $434,393. Thus, earning him a total of $52,127,160.

Bosh tried making a comeback until 2019 when he finally announced his retirement. The Miami Heat had already said in 2017 that his #1 jersey would be retired. And subsequently, after his official retirement, the Heat before the game against Orlando Magic in 2019 hung the jersey in the rafters.

Thanks to the deferred structure by the Miami Heat Bosh got the remaining amount of his contract. On the other hand, Bobby Bonilla earns more than the 10 active players of the New York Mets.

Miami Heat took a ‘cheque’ out of New York Mets Book

In his second stint with the Mets, however, with constant arguments with the coach, the time was uneventful for both parties. After the subpar season, Bobby Bonilla was released from the franchise. He and his agents agreed to a deferred payment structure with interest instead of $5.9 million upfront. This was the first of his two deferred contracts with the franchise.

The Mets agreed to an 8% interest for his first contract and thus, Bobby Bonilla receives nearly $1.2 million every year on July 1st. Hence, this day is celebrated as Bobby Bonilla Day. A few years earlier he once again agreed to another deferred contract of $250,000 per year from 2003 to 2028. Bonilla last played a game in 2001 and 23 years later his still getting paid more than the current players. Although Bonilla was not at his peak, the decision from his agents turned out a massive success for him and other players.

Chris Bosh was at the peak of his career yet the injury forced him to early retirement. But that did not stop him from making a return to competitive competition. 2 months ago, he participated in the 37th annual Big Sur International Marathon.

Stay tuned for more such updates, and to follow what Shaq’s ex-agent, Leonard Armato, has to say about the infamous Shaq-Kobe feud, Caitlin Clark’s Olympic snub, and more, watch this video.