The Braves have reached an agreement with second-round pick Garrett Fullenchek, reports Chris Cotillo of SB Nation's MLB Daily Dish.
Source: #Braves in agreement with second-rounder (66th) Garrett Fulenchek. Hearing it's an over-slot deal, so it's more than $860K.— Chris Cotillo (@ChrisCotillo) June 7, 2014
The recommended slot value of the pick is $860,000. Signing him to an overslot deal means that the Braves will give him more than that recommended amount as his bonus.
As players are drafted, they and their respective agents will begin contract negotiations with Atlanta. MLB's current collective bargaining agreement (CBA), which went into effect in 2012, prescribes a maximum amount of money that teams are allowed to use as bonuses for signing all their draft picks within the first ten rounds. The Braves total pool this year is $4,557,700.That pool is made up of the sum of suggested draft values for each of the club's picks. The catch is that any money saved on one player can be redirected to another. So, in this case, Atlanta is no doubt anticipating being able to sign one or more of their other top ten picks to below slot money, in order to free up extra cash for Fulenchek.
Under the CBA, if Atlanta went over their bonus pool by more than 5%, they would begin to lose draft picks based on the severity of their overage. Needless to say, this hasn't happened yet and isn't likely to any time soon.
The exact terms of Fulenchek's deal are not yet known, but we'll let you know as soon as we find out.
UPDATE 12:45 p.m. Jim Callis has the terms of the deal. Fulenchek gets a $1,000,000 bonus. (h/t Justin Pugh)