New Delhi, July 1 -- Every July 1, the New York Mets issue a cheque for $1,193,248.20 to former outfielder Bobby Bonilla, continuing one of the most distinctive financial arrangements in professional sports. The payments began in 2011 and will continue every summer through 2035. That is 25 years of steady money, long after he last played for the club.

In 2000, the New York Mets decided to buy out the final $5.9 million on Bobby Bonilla's contract. Instead of paying the full amount at once, both sides agreed to spread the money over 25 years with 8 percent interest added. The first check arrived on July 1, 2011, and the same amount has landed every year since.

At the time, team ownership believed they could invest the money they were hol...