11:43pm: The Orioles, who announced the deal via press release, agreed to a $5.25MM deal with Machado, according to Jon Heyman of SI.com (Twitter link).
11:06pm: The Orioles agreed to sign third-overall pick Manny Machado, according to Jim Bowden of Sirius XM Radio (Twitter link). The 18-year-old shortstop is from Miami, so some have compared him to one of the best draft picks in MLB history: Alex Rodriguez. A-Rod's agent, Scott Boras, also represents Machado (and a number of top picks in this year's draft). He wasn't an easy player to sign but, Orioles scouting director Joe Jordan said after the draft that Machado has the talent to be an impact major leaguer.
“He’s going to automatically be one of the premier prospects in the organization,” Jordan said.
Last year, MLB recommended a $2.925MM bonus for the third-overall pick. Click here for the complete list of 2010 first-rounders to sign.