The Yankees have announced the signing of first-round pick Clarke Schmidt. He’ll receive a $2,184,300 bonus, per Jack Curry of YES Network (via Twitter), falling well below the $3,458,600 slot value of the 16th overall selection.
Much of the savings from that selection will go toward second-round choice Matt Sauer, whose signing was also announced. As MLBTR’s Steve Adams recently reported, Sauer will receive a well-over-slot $2.5MM bonus. Likewise, the Bronx Bombers paid extra for third-round pick Trevor Stephan, fourth-rounder Canaan Smith, and seventh-round choice Dalton Higgins, per the MLB.com signings tracker.
In Schmidt, the Yanks have added a quality righty out of the University of South Carolina. Though his stock fell when he required Tommy John surgery earlier this year, that has not proven a major barrier to other young draftees and perhaps gave the Yankees a chance to achieve some added value with their overall draft pool.
Schmidt mostly drew top-50 grades in pre-draft rankings, including those of MLB.com and Fangraphs, while ESPN.com’s Keith Law was less bullish (ranking him 74th) due to questions about mechanics (and the potentially related UCL tear). The Baseball America team was highest on Schmidt, rating him the 32nd-best prospect available, crediting him with two useful fastballs, a quality slider, and a promising change that made him a rising prospect before the injury.
Schmidt needs to get a agent or if he has one fire him.
He’s not able to start actually throwing for like 6-8 months. How could he want more money
sounds like a predraft deal where the yankees could sign others for above slot deals
Yep, these things are almost always fully negotiated before/during the draft.
This is the one part of the MLB draft I don’t fully understand. Using the Yankees as an example, they’ll draft Schmidt in the first round because they can then sign him to an under slot deal at $2.5 million. Then they’ll sign over slot guys in rounds 2, 3 and 4. Why not just draft the guys you want in rounds 1 and 2, sign them to slot deals and then take the injured player in round 3 or 4 and sign him to that slot deal?
Because some players won’t sign unless they get an over-slot guarantee. Think about it. If you are rehabbing from an injury, or believe you can improve your draft stock dramatically, why take a fifth round deal? A team would not be able to sign them at that price. If you underslot an early pick, you can throw cash at the fifth round guy, making him more motivated to sign. If a team offers you an extra $750,000, it’s mighty hard to turn that down.
It’s similar to an extension. The team pays you before you hit FA, but for less money, so they win. You take less money, but there’s less risk for you if you have a bad year or get injured.
A bird in the hand is worth two in the bush.
Also, if you don’t like the deal you’re offered, you can just move up or return to college for a year and build value and then re-enter the draft the next year.
The Yankees did a similar maneuver when they took Cito Culver in the first round. He was not expected to be an early pick and agreed to sign for less than slot money. They used the extra pool money to overpay Mason Williams. It’s hard for people to understand why the MLB draft isn’t based completely on talent. Signability is just as important.