Pirates - last minute signing of Pedro

Pirates sign top pick Pedro Alvarez to $6 million bonus
Saturday, August 16, 2008
By Dejan Kovacevic, Pittsburgh Post-Gazette

Bulletin: The Pirates and first-round draft pick Pedro Alvarez have
agreed to contract terms -- $6 million plus a college education --
just before the midnight deadline.

The Pirates and first-round draft pick Pedro Alvarez were negotiating
right up to midnight last night, Major League Baseball's signing
deadline, with the team known to be offering the largest bonus in
franchise history.

The precise figure was not known, but it is believed to have been in
excess of $6 million, well above the $4 million paid to pitcher Bryan
Bullington, No. 1 overall in 2001.

General manager Neal Huntington and Alvarez's representative, Scott
Boras, had an open line of communication throughout the day but were
not expected to have their most meaningful dialogue until just before
midnight. That has become standard policy for Boras, who had two
first-round picks sign last year with other teams in the final 10
minutes.

Alvarez, 21, was the No. 2 pick in the June 5 draft after establishing
himself as an exceptional left-handed power hitter in three years as
Vanderbilt University's third baseman, batting .349 with 49 home runs.
This season, in which he lost six weeks to a broken hamate bone in his
right hand, he batted .317 with nine home runs and 30 RBIs in 40
games.

The Pirates were enthused enough about Alvarez's potential that, in
late May, owner Bob Nutting and president Frank Coonelly authorized a
significant increase in Huntington's draft budget in the event that
Tampa Bay, the team picking first, passed. The Rays, who already had
an elite young third baseman in Evan Longoria, ended up opting for
high school shortstop Tim Beckham and quickly signed him to a heavily
backloaded $6.15 million bonus.

Before the draft, Boras, encouraged by the Pirates' new management,
allowed them two lengthy visits with Alvarez, with Huntington and
scouting director Greg Smith participating in both. Those are visits
he might not have allowed previous management, and it represented a
sign that he viewed the Pirates as serious suitors.

He also made known at the time that Alvarez would be expensive,
comparing him -- and his worth -- to that of current Los Angeles
Angels first baseman Mark Teixeira, whose $9.5 million bonus from the
Texas Rangers in 2001 set a bar that still has not been matched by a
position player.

That price for Alvarez, the exact figure for which still has not been
disclosed by either side, apparently had not lowered much, if at all,
heading into yesterday. Neither side discussed negotiations publicly
throughout the process, though Coonelly last week said in an interview
that the Pirates would not "grossly exceed" the bar set by recent high
draft picks.

If the Pirates did not sign Alvarez, they will receive a compensatory
pick in the draft next year, No. 3 overall, in addition to their
regular first-round pick. Alvarez would return to Vanderbilt for his
senior year, then re-enter the draft pool.

In the meantime, the Pirates also went deep into the night in
negotiations with their second-round pick, pitcher Tanner Scheppers,
and they signed their 20th-round pick, high school pitcher Quinton
Miller.

The latter represented quite the surprise, mostly because the team
paid a $900,000 bonus that was many times the $50,000 standard for
that round, as well as the highest paid by any team for a pick beyond
the sixth round. The previous day, the Pirates paid a $1 million bonus
to high school outfielder Robbie Grossman. In each case, the player
chose professional baseball over college.

Miller, an 18-year-old right-hander, was ranked the No. 1 prospect in
New Jersey by Baseball America -- No. 158 overall -- by going 6-3 with
a 2.13 ERA, 85 strikeouts and 14 walks in 522/3 innings as a senior at
Shawnee High School.

After that, he and his family informed major league teams that he
planned to honor his letter of intent to play for the University of
North Carolina, causing him to pass through 19 rounds. But the Pirates
decided to take a chance that he would change his mind.

"Based on potential alone, Quinton was projected to be an early-round
selection in the draft but was still available due to his commitment
to North Carolina," Huntington said. "We're thrilled to have him join
our organization."

Miller told the Web site InsideCarolina.com that he was preparing to
move from his home in Medford, N.J., to the Tar Heels' campus until
the Pirates called Thursday and dramatically upgraded their offer.

"Talks had been dead for a couple of weeks," Miller said. "I was set
to go to school. I was very excited for school with all of my stuff
all ready to go. They called, and things picked up from there out of
nowhere. They said that they had the money. It was one of the hardest
decisions I've had to make, but they gave me an offer I couldn't turn
down."

Scheppers, a standout at Fresno State University, had his junior year
derailed by a slightly torn labrum in his shoulder -- one of the worst
injuries for the modern pitcher -- and saw his draft stock plummet
from a possible top-10 position to No. 48 overall.

MLB's recommended slot at No. 48 is for $809,000, but it is believed
Scheppers was seeking slot for No. 10, which would be $2.07 million,
or more. If Scheppers had been in full health, the Pirates almost
surely would have paid that amount. But he missed the final two months
of the college season, had to delay his pitching session at PNC Park
by two weeks before doing so Monday, then was limited to
less-than-peak velocity and no breaking pitches when he did.

For not signing Scheppers, the Pirates' compensatory pick would be the
third of the second round. Scheppers could return to Fresno State.

Even without Alvarez and Scheppers, the Pirates had spent in excess of
$3 million on draft picks, including $2,166,000 on players in their
top 10 rounds and the $900,000 on Miller.

Thirty of the 50 picks had signed, three more than last year.

So is this a sign Nutting is serious about putting a winner on the field?
Good management & mo' money, sounds like a good start.

"CandyFan" <candyfan.DeleteThis@aol.com> wrote in message
news:1bpca4l2jap4g3p2lc4m2j4k2qpis59hpd@4ax.com...
> Pirates sign top pick Pedro Alvarez to $6 million bonus
> Saturday, August 16, 2008
> By Dejan Kovacevic, Pittsburgh Post-Gazette
>
> Bulletin: The Pirates and first-round draft pick Pedro Alvarez have
> agreed to contract terms -- $6 million plus a college education --
> just before the midnight deadline.
>
> The Pirates and first-round draft pick Pedro Alvarez were negotiating
> right up to midnight last night, Major League Baseball's signing
> deadline, with the team known to be offering the largest bonus in
> franchise history.
>
> The precise figure was not known, but it is believed to have been in
> excess of $6 million, well above the $4 million paid to pitcher Bryan
> Bullington, No. 1 overall in 2001.
>
> General manager Neal Huntington and Alvarez's representative, Scott
> Boras, had an open line of communication throughout the day but were
> not expected to have their most meaningful dialogue until just before
> midnight. That has become standard policy for Boras, who had two
> first-round picks sign last year with other teams in the final 10
> minutes.
>
> Alvarez, 21, was the No. 2 pick in the June 5 draft after establishing
> himself as an exceptional left-handed power hitter in three years as
> Vanderbilt University's third baseman, batting .349 with 49 home runs.
> This season, in which he lost six weeks to a broken hamate bone in his
> right hand, he batted .317 with nine home runs and 30 RBIs in 40
> games.
>
> The Pirates were enthused enough about Alvarez's potential that, in
> late May, owner Bob Nutting and president Frank Coonelly authorized a
> significant increase in Huntington's draft budget in the event that
> Tampa Bay, the team picking first, passed. The Rays, who already had
> an elite young third baseman in Evan Longoria, ended up opting for
> high school shortstop Tim Beckham and quickly signed him to a heavily
> backloaded $6.15 million bonus.
>
> Before the draft, Boras, encouraged by the Pirates' new management,
> allowed them two lengthy visits with Alvarez, with Huntington and
> scouting director Greg Smith participating in both. Those are visits
> he might not have allowed previous management, and it represented a
> sign that he viewed the Pirates as serious suitors.
>
> He also made known at the time that Alvarez would be expensive,
> comparing him -- and his worth -- to that of current Los Angeles
> Angels first baseman Mark Teixeira, whose $9.5 million bonus from the
> Texas Rangers in 2001 set a bar that still has not been matched by a
> position player.
>
> That price for Alvarez, the exact figure for which still has not been
> disclosed by either side, apparently had not lowered much, if at all,
> heading into yesterday. Neither side discussed negotiations publicly
> throughout the process, though Coonelly last week said in an interview
> that the Pirates would not "grossly exceed" the bar set by recent high
> draft picks.
>
> If the Pirates did not sign Alvarez, they will receive a compensatory
> pick in the draft next year, No. 3 overall, in addition to their
> regular first-round pick. Alvarez would return to Vanderbilt for his
> senior year, then re-enter the draft pool.
>
> In the meantime, the Pirates also went deep into the night in
> negotiations with their second-round pick, pitcher Tanner Scheppers,
> and they signed their 20th-round pick, high school pitcher Quinton
> Miller.
>
> The latter represented quite the surprise, mostly because the team
> paid a $900,000 bonus that was many times the $50,000 standard for
> that round, as well as the highest paid by any team for a pick beyond
> the sixth round. The previous day, the Pirates paid a $1 million bonus
> to high school outfielder Robbie Grossman. In each case, the player
> chose professional baseball over college.
>
> Miller, an 18-year-old right-hander, was ranked the No. 1 prospect in
> New Jersey by Baseball America -- No. 158 overall -- by going 6-3 with
> a 2.13 ERA, 85 strikeouts and 14 walks in 522/3 innings as a senior at
> Shawnee High School.
>
> After that, he and his family informed major league teams that he
> planned to honor his letter of intent to play for the University of
> North Carolina, causing him to pass through 19 rounds. But the Pirates
> decided to take a chance that he would change his mind.
>
> "Based on potential alone, Quinton was projected to be an early-round
> selection in the draft but was still available due to his commitment
> to North Carolina," Huntington said. "We're thrilled to have him join
> our organization."
>
> Miller told the Web site InsideCarolina.com that he was preparing to
> move from his home in Medford, N.J., to the Tar Heels' campus until
> the Pirates called Thursday and dramatically upgraded their offer.
>
> "Talks had been dead for a couple of weeks," Miller said. "I was set
> to go to school. I was very excited for school with all of my stuff
> all ready to go. They called, and things picked up from there out of
> nowhere. They said that they had the money. It was one of the hardest
> decisions I've had to make, but they gave me an offer I couldn't turn
> down."
>
> Scheppers, a standout at Fresno State University, had his junior year
> derailed by a slightly torn labrum in his shoulder -- one of the worst
> injuries for the modern pitcher -- and saw his draft stock plummet
> from a possible top-10 position to No. 48 overall.
>
> MLB's recommended slot at No. 48 is for $809,000, but it is believed
> Scheppers was seeking slot for No. 10, which would be $2.07 million,
> or more. If Scheppers had been in full health, the Pirates almost
> surely would have paid that amount. But he missed the final two months
> of the college season, had to delay his pitching session at PNC Park
> by two weeks before doing so Monday, then was limited to
> less-than-peak velocity and no breaking pitches when he did.
>
> For not signing Scheppers, the Pirates' compensatory pick would be the
> third of the second round. Scheppers could return to Fresno State.
>
> Even without Alvarez and Scheppers, the Pirates had spent in excess of
> $3 million on draft picks, including $2,166,000 on players in their
> top 10 rounds and the $900,000 on Miller.
>
> Thirty of the 50 picks had signed, three more than last year.