Most people know that July 1st is known as Canada Day (which honors the joining of Nova Scotia, New Brunswick, Quebec, and Ontario into the nation of Canada in 1867).

However, in recent years, July 1st has taken on another meaning in sports parlance.  It's now known as Deferred Payment Player Day in Major League Baseball, otherwise known as Bobby Bonilla Day.

Why Bobby Bo?  Because every year on July 1st (until 2035), Bonilla (a former MLB All-Star) receives around $1.19 million from the New York Mets as part of the payout for the final year of his contract with the Mets (2000).

Bonilla (pictured above) is just one current or former MLB player that is receiving deferred money from a number of teams that they've played for.

Noted New York Mets fan Michael Mayer keeps track of MLB Deferred Payments on Twitter.  You can follow him at @MikeMayerMMO.  He explains it in much more detail there.

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