The Cubs have reached an agreement with first-round draft pick Hayden Simpson, according to MLB.com's Carrie Muskat (via Twitter). The deal is pending a physical, but the team could officially announce the signing by Saturday.
Jim Callis of Baseball America reports that Simpson will receive a signing bonus of $1.06MM, well below MLB's recommended figure for the draft slot.
The club's selection of Simpson at 16th overall in last week's draft surprised many, including the college right-hander himself. Although Baseball America ranked the Southern Arkansas pitcher 191st overall in their list of the top 200 amateur prospects, Mark Potash of the Chicago Sun-Times points out that Cubs scouting director Tim Wilken "has a history of taking players based on his ratings and not Baseball America's."