9:43pm: Baseball America's Jim Callis reports that O'Conner will receive $1.025MM, making him the first 2010 draftee to sign for more money than the corresponding pick in 2009. Brett Jackson signed with the Cubs for $970K last year as the 31st overall pick.
FRIDAY, 4:53pm: O'Conner told Smith that he will sign tonight.
THURSDAY, 4:43pm: Smith also reports that second-rounder Derek Dietrich, taken 79th overall by the Rays, is at Tropicana Field. Smith writes that "a deal could be finalized today" and Dietrich could be playing in the Tampa Bay system as soon as the weekend.
10:38am: The Rays will sign first round pick Justin O'Conner for an unknown amount tonight, according to Thomas St. Myer of the Muncie Star Press. The deal, which is pending a physical, comes as no surprise since Joe Smith of the St. Petersburg Times reported earlier in the week that the team had the framework of a deal in place with O'Conner.
The 18-year-old catcher had committed to playing at the University of Arkansas, but will instead begin his pro career. MLB.com's scouting report says that going into the draft, some teams liked O'Conner as a pitcher who throws a mid-90s fastball. Josh Sale, the other player the team selected in the first round, could soon join O’Conner. Rays scouting director R.J. Harrison told Smith that the team plans to start contract talks with Sale.