The New York Mets will still owe former MLB player Bobby Bonilla $19 million after Wednesday, including an additional $500,000 from a previous postponement.
The agreement was approved in 1999 when Mets owners, the Wilpon family, negotiated a long-term buyout instead of paying Bonilla the remaining $5.9 million on his deal when the team waived him. Bonilla's agent Dennis Gilbert arranged the deferment, which started in 2011 and included 8% interest., Bonilla agreed to the payouts because "he wanted to make sure he had money for the future. He was concerned about taking care of his family.
Meanwhile, the Mets used the money saved from Bonilla's deferment to upgrade their roster, but the Wilpon family also got involved with the"It's just unfortunate they got hood-winked in the Madoff deal. Otherwise, it would have been a win-win for both sides,"Including this July 1 payout, the Mets have so far have paid Bonilla $10,739,232 and the club still owes him roughly $19 million.
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