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Why the Mets will pay Bobby Bonilla $1.19 million today (and every July 1 through 2035)

It's Friday, July 1, and we should be thinking about our Fourth of July weekend plans. But, as baseball fans, we can't. Why? Because today is all about Bobby Bonilla.

A man who last played 5,381 days ago owns this day. Not just this July 1, but every July 1 through 2035. For it's the day when the New York Mets pay him $1,193,248.20.

So with the water cooler and Twitter buzzing today about the Bonilla deal, here's your primer.

How did the deal present itself?

Deferred money deals have been going on for a long time, but the Mets did more of them than most.