Bobby Bonilla Day: The illustrious agreement that revolutionised baseball

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 The summer's best sporting weekend is coming up. 

Wimbledon is starting in London with the first round of competition. 

On July 4 on Coney Island, New York, 15-time world champion Joey Chestnut will defend his title in the Nathan's Hot Dog Eating Contest.

Additionally, the baseball community will once again observe Bobby Bonilla Day on Saturday, July 1. 

Yes, the New York Mets will give Bonilla a cheque for $1,193,248.20 for the 13th year in a row, with 12 more to go. 

Follow the money: Major League Baseball payrolls and player salaries

Despite the fact that Bonilla, 60, hasn't participated in a baseball game since 2001, he will continue to receive payments until he is 72 years old, converting $5.9 million into $30 million owing to a deferred contract his former agent Dennis Gilbert arranged with a ridiculous 8% interest rate. 

As Gilbert said to USA TODAY Sports, "I talk to Bobby on a regular basis anyway, but I really think about him on Father's Day because it's the father of all deferred contracts." 

The first delayed contract in baseball history wasn't this one. 

It isn't the biggest, for sure. 

MLB MVPs for all 30 clubs at the midpoint of the season.

Oh, but it's the most acclaimed. 

In March 2020, while he was negotiating Christian Yelich's club-record nine-year, $215 million contract, seasoned agent Joe Longo showed Gilbert the utmost respect. Longo requested that the delayed payments be made yearly on January 1 when Brewers owner Mark Attanasio and he agreed to postpone $30 million of his contract, paying him $2.5 million from 2031 through 2042. Attanasio demanded payment at the conclusion of the campaign. 

"So I responded, 'We don't we have a Bobby Bonilla Day, and split the difference?'" said Longo. As a result, July 1 was chosen. 

"I phoned Go-Go [Gilbert] and asked him whether it was done in his honour. Why not pay a different player on Bobby Bo Day? 

Gilbert declared, "I was honoured."