The Cubs announced the signing of LHP Jordan Minch, the team’s 35th round pick in last month’s draft, prior to Friday’s deadline. According to reports, Minch signed a $110,000 bonus. The additional $10,000 counts against the Cubs bonus pool for the 2014 draft. Plus, the Cubs agreed to pay for the completion of his undergraduate degree. The southpaw from Purdue announced on his Twitter account earlier this month he had signed with the team.
Jordan Minch is 6-foot-3, 190 pounds and posted a 1-7 record for Purdue this spring. In 14 starts he allowed 56 runs, 55 earned, on 102 hits with 36 walks and 52 strikeouts in 86 2/3 innings. Minch grew up a Cubs fan in Northwest Indiana.
The Cubs spent $8,764,000 on 12 picks in this year’s draft, $411,000 over the $8,352,200 the team was allotted for the 2014 draft. And the Cubs signed the first 22 picks in the draft and 27 of the 40 players that Jason McLeod’s department selected in last month’s draft.
The Cubs signed each of the picks in the first 10 rounds of this year’s draft and were able save slot money in the first ten rounds to use on players that were labeled as tough signs. July 18 was the deadline to sign players that were selected in the draft.
Kyle Schwarber ($3.125 million), RHP Jake Stinnett ($1 million), Mark Zagunis ($615,000) RHP James Norwood ($175,000), LHP Tommy Thorpe ($135,000), RHP James Farris ($3,000) and RHP Ryan Williams ($1,000) signed under-slot deals.
The Cubs used the $2,188,200 saved on those seven picks on LHP Carson Sands, LHP Justin Steele, RHP Dylan Cease, 3B Kevonte Mitchell and LHP Jordan Minch. The extra bonuses paid to Sands, Steele, Cease, Mitchell and Minch total $2,599,600.
The Cubs signed LHP Carson Sands for $1.1 million, which is $619,000 above the slot allotment of $480,600 for the Cubs fourth round pick. LHP Justin Steele signed for $1 million, which is $640,100 over the Cubs slot allotment for their fifth pick of $359,900. RHP Dylan Cease signed for $1.5 million, which is $1,230,500 over the Cubs slot allotment for their sixth round pick of $269,500. Kevonte Mitchell signed for $200,000, and the overage of $100,000 counts against the Cubs signing pool. And $10,000 of the $110,000 Minch signed for counts against the bonus pool.
The Cubs signing bonus pool for the first 10 rounds of this year’s draft was $8,352,200 million. If the Cubs signed a player in rounds 11-40 for more than $100,000, the excess was counted against the team’s bonus pool. If the Cubs would have drafted a player in the first 10 rounds that they were unable to sign, the assigned slot value would have been removed from their bonus pool allotment.
The Cubs spent $8,764,000 on 12 picks in this year’s draft, $411,000 over the $8,352,200 the team was allotted for the 2014 draft.
If a team exceeds its draft pool by 0-5 percent it receives a 75 percent tax on the overage. If a team exceeds its bonus pool allotment by more than five percent and up to 10 percent, the penalty is the loss of a first round pick and a 75 percent tax on the overage. If a team exceeds its bonus pool by 10-15 percent, the penalty is the loss of a first and second round pick, plus 100 percent tax on the overage. If a team exceeds its bonus pool by more than 15 percent, the penalty is two first round draft picks and 100 percent tax on the overage.
Cubs Pick Values and Draft Signings
- Round One (Pick #4) – $4,621,200 – Kyle Schwarber signed for $3.125 million
- Round Two (Pick #45) – $1,250,400 – RHP Jake Stinnett signed for $1 million
- Round Three (Pick #78) – $714,900 – Mark Zagunis signed for $615,000
- Round Four (Pick #109) – $480,600 – LHP Carson Sands signed for $1.1 million
- Round Five (Pick #139) – $359,900 – LHP Justin Steele signed for $1 million
- Round Six (Pick #169) – $269,500 – RHP Dylan Cease signed for $1.5 million
- Round Seven (Pick #199) – $201,900 – RHP James Norwood signed for $175,000
- Round Eight (Pick #229) – $161,800 – LHP Tommy Thorpe signed for $135,000
- Round Nine (Pick #259) – $151,000 – RHP James Farris signed for $3,000
- Round Ten (Pick #289) – $141,000 – RHP Ryan Williams signed for $1,000
- Round Eleven – $100,000 – RHP Jordan Brink signed for $100,000
- Round Twelve – RHP Tanner Griggs
- Round Thirteen – $100,000 – 3B Kevonte Mitchell signed for $200,000
- Round Fourteen – 2B Chesny Young
- Round Fifteen – RHP Jeremy Null
- Round Sixteen – SS Jason Vosler
- Round Seventeen – RHP Michael Knighton
- Round Eighteen – RHP Austyn Mills
- Round Nineteen – RHP Brad Markey
- Round Twenty – SS Alex Tomasovich
- Round Twenty-One – OF Charles White
- Round Twenty-Two – 3B Joey Martarano
- Round Twenty-Five – C Tyler Pearson
- Round Twenty-Six – RHP Zach Hedges
- Round Twenty-Seven – OF Calvin Graves
- Round Thirty-Two – 2B Andrew Ely
- Round Thirty-Five – $100,000 – LHP Jordan Minch signed for $110,000