In 1999 Bobby Bonilla returned to the Mets for a second time following his borderline disastrous free-agent signing in 1992. He again didn't so well, so the Mets waived him in 2000.
However, the team still owed him $5.9 million in guaranteed salary.
His agents agreed to defer the salary if the team would pay him
$1,193,248.20 every July 1 from 2011 (he was 48) to 2035. Sounds
like a sweet deal to me.