2:54pm: Smith's deal is worth $2.6MM, according to Jim Callis of Baseball America (on Twitter). That figure is just below the slot recommendation of $2.8MM for the No. 11 overall selection.
2:23pm: The Mets have reached agreement on a deal with first-rounder Dominic Smith, sources tell Marc Carig of Newsday (via Twitter). An official announcement from the Mets is coming soon, according to Carig.
Terms of the deal are unknown, but the slot recommendation for the No. 11 pick is $2,840,300, according to Baseball America. Smith, a high school first baseman out of California, is being advised by the MVP Sports Group.
ESPN's Keith Law ranked Smith as the No. 11 talent available, while Baseball America ranked him 14th, and MLB.com's Jonathan Mayo ranked him 15th. All three noted the tremendous upside of Smith's bat and his plus defense at first, with Law in particular noting how rare it is for high school first basemen to be this highly regarded because they're already at the bottom of the defensive spectrum.
Matt Ehalt of ESPNNewYork.com reported last week that the Mets and Smith were close to a deal.
Steve Adams contributed to this post.