According to reports from John Manuel and Jim Callis, the Cubs have agreed to terms with fourth round draft pick LHP Carson Sands, fifth round pick LHP Justin Steele and 11th round pick RHP Jordan Brink.
John Manuel reported the Cubs signed Carson Sands for $1.1 million, which would be $619,000 above the slot allotment of $480,600 for the Cubs fourth round pick. The Cubs’ deal with Jordan Brink appears to be for the slot value of $100,000.
Jim Callis reported the Cubs also agreed to terms with LHP Justin Steele with an over-slot bonus of $1 million. The Cubs slot allotment for their fifth pick is $359,900. So the Cubs paid $640,100 over slot for Steele.
With the bonuses to Kyle Schwarber ($3.125 million) and Mark Zagunis ($615,000) being under-slot deals, the Cubs will be able to use some of the $1,596,100 saved on the first and third round picks on Carson Sands and Justin Steele. The extra bonuses paid to Sands and Steele total $1,259,100.
Matt Dorey said Saturday the Cubs should be announcing several signings this week of the players that were selected in the first ten rounds.
The Cubs have not announced signing LHP Carson Sands, LHP Justin Steele or RHP Jordan Brink. But Brink is working out at the Cubs’ facility in Mesa.
The Cubs signing bonus pool for the first 10 rounds of this year’s draft is $8,352,200 million. If the Cubs sign a player in rounds 11-40 for more than $100,000, the excess is counted against the team’s bonus pool. If the Cubs draft a player in the first 10 rounds they are unable sign, the assigned slot value is removed from their bonus pool allotment.
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 $3.125 million
- Round Two (Pick #45) – $1,250,400
- Round Three (Pick #78) – $714,900 – Mark Zagunis signed $615,000
- Round Four (Pick #109) – $480,600 – LHP Carson Sands signed $1.1 million
- Round Five (Pick #139) – $359,900 – LHP Justin Steele signed $1 million
- Round Six (Pick #169) – $269,500
- Round Seven (Pick #199) – $201,900
- Round Eight (Pick #229) – $161,800
- Round Nine (Pick #259) – $151,000
- Round Ten (Pick #289) – $141,000
- Round Eleven – $100,000 – RHP Jordan Brink signed $100,000
Matt Dorey, the Cubs Director of Amateur Scouting, told Bruce Levine and Wayne Randazzo during an interview Saturday on Inside the Clubhouse (670 The Score), that the Cubs are close to announcing several signings.
“We are getting really close. You will see most of the top ten-round guys start to filter in here over the next few days,” Dorey told Levine and Randazzo. “With the new collective bargaining agreement with the draft and the CBA we have to be real systematic in making sure that we cross all of the t’s and dot all of the i’s before we get these guys signed and off to the affiliate, whether it’s Boise or Mesa. We are making progress and we should have most of these guys signed and in Cubs affiliate uniforms for us pretty soon.”