Five most ridiculous Major League Baseball contracts of former players

In Major League Baseball, July 1 can best be known as “Bobby Bonilla Day”. So why? Check it out in the five most ridiculous Major League Baseball contracts of all-time. Instead of being termed as ridiculous, Major League Baseball teams refer to the contracts as “deferred salary payment plans.”

5) Manny Ramirez–Boston Red Sox–The 48-year-old native of Santo Domingo, Dominican Republic ended his Major League Baseball career with the Tampa Bay Rays in 2011. He tested positive for a banned substance in spring training, was suspended 100 games, and retired. When Ramirez signed an eight-year deal worth $160 million with the Boston Red Sox in 2001, the sides agreed that he would get over $2 million per year in deferred income from 2011 to 2026. While with Boston, Ramirez was a seven-time all-star, led the American League in home runs in 2004 with 43, led the American League in batting average in 2002 at .349, was the World Series Most Valuable Player in 2004, and won two World Series with the Red Sox in 2004 and 2007. The 2004 World Series was the Red Sox’s first World Series since 1918.

4) Bret Saberhagen–New York Mets–The 56-year-old native of Chicago Heights, Illinois, is best known for being the World Series most valuable player with the Kansas City Royals in 1985. However, after Saberhagen was traded to the Mets in 1991, he renegotiated his contract in 1993. In the contract, Saberhagen got two things he requested. First was a signing bonus of $2.5 million, and the second was a payment of $250,000 per year for 25 years from 2004 to 2028. Saberhagen pitched four seasons with the Mets from 1992 to 1995, and was an all-star in 1994. That season he posted a record of 14 wins, four losses, an earned run average of 2.74, and 143 strikeouts. What was most impressive from Saberhagen’s season was his control. He only had 13 walks in 177 1/3 innings pitched.

3) Ken Griffey Jr.–Cincinnati Reds–In 1999, Ken Griffey Jr. requested a trade from the Seattle Mariners to the Cincinnati Reds, because he wanted to be closer to his family and return to his hometown. He blocked a trade to the New York Mets and subsequently signed a nine-year contract worth $112.5 million. A significant portion of the contract was deferred. From 2009 to 2021, the Reds agreed to pay Griffey Jr. $3.6 million annually. Griffey Jr. ended up being an all-star in 2000, 2004, and 2007 with Cincinnati, before ending his career with the Chicago White Sox and Mariners. Even though Griffey’s statistics were not nearly as strong in Cincinnati as Seattle, he still put up a solid 2005 season where he batted .301 with 35 home runs and 92 runs batted in.

2) Bruce Sutter–Atlanta Braves–If you don’t remember Bruce Sutter, that is ok. He has not pitched in Major League Baseball since 1988 when he had an earned run average of 4.76 with the Braves. Considered one of baseball’s most dominant closers, Sutter led the National League in saves for five of six seasons with the Chicago Cubs and St. Louis Cardinals from 1979 to 1984. In 1984, Sutter signed a six-year deal worth $4.8 million, with another $4.8 million into a deferred account at 13% interest. That meant Sutter would be paid $1.2 million each year from 1991 to 2021. According to Mike Axisa of CBS Sports, Sutter will also receive a whopping $9.1 million in 2022.

1)Bobby Bonilla–New York Mets–So just why is July 1 Bobby Bonilla Day? Well, when the Mets signed Bonilla to a five-year deal worth $29 million, he became the highest-paid player in Major League Baseball at the time. In the initial contract, Bonilla earned $500,000 each year from 2004 to 2023. Bonilla was then traded to the Florida Marlins, and won a World Series with them in 1997, before joining the Los Angeles Dodgers in 1998, and returning to the Mets in 1999. The 1999 season was a disaster for Bonilla. He only batted .160 with four home runs and 18 runs batted in. He constantly feuded with Mets manager Bobby Valentine over playing time, and was even playing cards with teammate Rickey Henderson in the Mets’ clubhouse during game six of the 1999 National League Championship Series between the Mets and Braves, according to Zach Braziller of the New York Post.

In 2000, Bonilla was released by the Mets, but was still owed $5.9 million. Bonilla’s agent Dennis Gilbert then offered the Mets a deal. The Mets would defer money to Bonilla for a decade, on the grounds that he would be paid $1.19 million annually on July 1 from 2011 to 2035. At the time, Mets owner Fred Wilpon accepted the deal because he thought he could use the $5.9 million towards investing with stockbroker Bernie Madoff. The deal did not work for the Mets at all, as it was later determined that Madoff was creating a Ponzi scheme, and Madoff was sentenced to life in prison in 2009.