Did Edwin Diaz spark the new 'Bobby Bonilla Day' for Mets?

There's more to the New York Mets signing closer Edwin Diaz to a five-year, $102 million contract than first thought. 

According to The Associated Press (h/t ESPN), Diaz's latest deal includes $26.5 million in deferred payments that he won't receive in full until 2042. Additionally, the contract has a club option for 2028 that could increase its worth to $118.25 million over six seasons when all is said and done. 

The AP notes that the Mets are on track to defer $5.5 million attached to Diaz's contract each year from 2023 to 2025 and $5 million annually in 2026 and 2027. Payments for the deferred cash are due July 1 each year he's owed money and begin in 2033. 

For example, Diaz is on pace to receive $2.35 million in 2041 and $2.65 million in 2042 regarding the deferment of 2027 money. 

As Dan Mullen wrote for ESPN this past July, Bobby Bonilla collects a check for $1,193,248.20 from the Mets every July 1 through 2035 after the franchise agreed to buy out the remainder of his deal and make annual payments that included interest in 2000. Those payments began in 2011 and have made July 1 "Bobby Bonilla Day" for Mets fans able to laugh about the matter. 

As for the overall terms of Diaz's deal, Bradford Doolittle and David Schoenfield of ESPN gave the Mets a "B" for keeping their closer at such a high price. 

"Diaz is coming off a ridiculously dominant season, going 3-1 with a 1.31 ERA and 32 saves, but it's the strikeout rate that stands out: 118 in 62 innings," Doolittle and Schoenfield pointed out. "He struck out just over half the batters he faced at 50.2 percent." They admitted, though, that it's "still a lot of money for a reliever" and that "there is the general volatility of all closers — even great ones." 

Some fans and other observers may feel Diaz's entrances from the bullpen during home games makes his contract money well spent for the Mets based on entertainment value alone: