Hochevar Signs Major League Contract
As was reported last week by MLB.com, Luke Hochevar (1st overall pick in the 2006 MLB draft) has been signed by the Kansas City Royals and now has a 4 year Major League contract [Royals agree with top pick Hochevar]. Why is it particularly important that Scott Boras got his client a Major League contract? The answer is that now Hochevar must be placed on the 40-man roster immediately and will have to be placed on Kansas City’s 25-man roster within three years, or Hochevar will be able to go to another team through waivers [Royals Sign No. 1 Draft Pick to Major League Contract]. Hochevar will be eligible for free-agency and arbitration earlier, as he should start his major league service in the near future.
The Kansas City Royals will benefit by being able to spread out the signing bonus over the duration of the contract instead of within 18 months (like minor league contracts provide for).
Hochevar is only the fourth No. 1 selection to sign a Major League contract in the past 20 years. The others are Alex Rodriguez (also represented by Scott Boras…surprised?), Pat Burrell (agent Greg Genske), and Delmon Young (agent Arn Tellem).
The belief is that the contract signed for Hochevar includes $5.2 million guaranteed over four years, with the ability to reach up to $7 million based on incentives.
This is the classic case of a Scott Boras holdout working in the end. Hochevar was selected in the 2005 draft by the Los Angeles Dodgers after playing at the University of Tennessee. After failing to reach an agreement on a contract, Boras held him out a year and had Hochevar play for the independent league Fort Worth Cats. Boras was Hochevar’s advisor at the time. It looks like Boras strikes again, taking a risk that could have held Hochevar out for another year, but ending up with the nice reward for his client.
[tags]hochevar, sports agent, sports agents, luke hochevar, scott boras, boras, arn tellem, pat burrell, delmon young, alex rodriguez, kansas city royals[/tags]