India, July 1 -- Baseball fans, it is Bobby Bonilla Day. Observed every year on July 1, it is one of the most-talked-about Major League Baseball (MLB) traditions. Named after six-time All-Star player Bonilla, the holiday marks one of the most bizarre deals in baseball history.

Bonilla, who played his last professional game in 2001, receives $1.19 million annually from the New York Mets on July 1. Why? Because of a deal made by the 62-year-old's agent, Dennis Gilbert, reported CNN.

As per the deal, which is a part of a contract negotiated by Gilbert, Bonilla will receive $1,193,248.20 every year through 2035. The MLB star, who last played with the Mets in 1999, will be 72 by the time his contract with the team expires.

In 1999, the Mets...