2007 MLB Amateur Draft Signing Bonuses – Final Update
The August 15th midnight deadline has come and gone. Last time we updated this thread (6 days before the deadline), slot values had still been down across the board and 22 of the top 100 picks had not yet signed. In addition 13 of the 22 were first rounders.
Let’s just say that August 15th was a busy day. Recommended slot values were thrown out the window and the big bucks started flowing from the MLB teams to the draftees.
Among the highlights:
- #1 overall pick, David Price, signed with the Tampa Bay Devil Rays in a 6 year contract that could be worth as much as $11.25 million. $8.5 million is guaranteed and his signing bonus is $5.6 million. Good value on the bonus and guaranteed money.
- Porcello signed a 4-year deal with the Detroit Tigers for $7 million ($3.58 million bonus).
- Madison Bumgarner signed with the San Francisco Giants for $2 million ($200,000 above slot value).
- Yankees signed Andrew Brackman to a deal that could be worth $13 million. For now, $4.55 million is guaranteed along with a $3.35 signing bonus.
- The Florida Marlins gave Matt Dominguez 2006 bonus money at his 12th slot.
- Scott Boras shattered the record offer to a 5th rounder by getting his client, Jake Arrieta a $1.1 million bonus from the Baltimore Orioles.
- Casey Crosby signed with the Detroit Tigers and received a $748,500 signing bonus. That is quite a bit more than the recommended $126,000 at that slot.
- Matt Wieters was the last first rounder to sign. At $6 million, his bonus is the largest bonus paid straight up in the history of the MLB.
A lot of players that were signed right before the deadline signed for the 2006 value at that slot. At least signing bonuses seemed to resemble what was given at that slot in the previous year. Even though this is true and that most of the players who signed before August 15th signed for their recommended 2007 slot value, the few huge first round bonuses were able to actually raise the average signing bonus for first round selections (highest first round bonus average since 2002). Overall, though, the slot values were reduced by 10%. Will the MLB be happy with the situation?
I will leave off with this statement by Casey Crosby’s mother:
“He’s not touching that (bonus). When he starts playing he’ll be getting the $1,100 a month or whatever it is they get in the minor leagues. He can live off that.” [Motor City deal has Crosby thinking of cars].