Major League Baseball Spends Record $374 Million On Its’ Stock Futures.
Major League Baseball teams spent a record $374,345,077 on signing bonuses for players drafted last month. That is $24,256,017 more than the previous record spent by the 30 ballclubs a year ago on their futures.
The franchise showing the biggest increase was the Cleveland Guardians. They became the first to eclipse the $20 million mark. That was due in part to paying $8.95 million to No. 1 overall selection Travis Bazzana of Oregon State. The team nearly doubled what it spent in 2023 and the $10,194,325 increase was just $27,450 less than they shelled out a year ago.
Bazzana did not get an individual record payout, however. Wake Forest pitcher Chase Burns, taken second by the Cincinnati Reds and Georgia outfielder Charlie Condon, chosen third by the Colorado Rockies, each received $9.25 million. That broke the $9.2 million secured by Paul Skenes, the No. 1 overall choice by the Pittsburgh Pirates in 2023.
For that $50,000 difference both the Reds and Rockies would ecstatic to get such an immediate dividend on their investment as the Pirates. Skenes went from leading Louisiana State to the 2023 College World Series Championship to starting the 2024 MLB All-Star Game. The rookie right-hander has a 6-1 record, sparkling 1.88 earned run average and 107 strikeouts in 14 starts for the Pirates this year.
Overall, first-rounders averaged $5,036,544 in bonuses in 2024. That’s another record, breaking the $4,733,796 in 2023.
The previous single-year mark of $19,103,000 for one team was set by the Houston Astros in 2015. That was when the drafted last 40 rounds, though Houston signed only 20 of its picks that year. The 2024 MLB Draft lasted 20 rounds. Cleveland’s $20,416,100 went to 21 players as the Guardians held two selections in the first round.
The second of those two early picks, California high school pitcher Braylon Doughty, got $2,569,200 to sign as the 36th overall choice.
The Guardians are hopeful their two first-rounders turn out as well as Houston’s top two selections in 2015. Third baseman Alex Bregman got $5,900,000 as the second overall pick and outfielder Kyle Tucker was paid $4,000,000 as the No. 5 choice. Bregman got to the majors in 2016. He has been a key part of the Astros stretch of seven consecutive playoff appearances from 2018 thru 2023 that includes four trips to the World Series and two championships. Tucker joined the big-league club in 2018 and helped the franchise continue its’ string of success.
Eleven teams spent less in 2024, led by the Detroit Tigers. Their total spending on draft picks was down $3,964,950. Seven of the 12 teams with a decrease made the playoffs last year and therefore picked lower. That includes the World Series champion Texas Rangers who picked last in rounds 3 thru 20 and had the third largest decrease.
Dollar amounts are assigned to each pick for the first 10 rounds. Some clubs try to save money by paying under value in earlier rounds if they can, in order to pay a bit higher later. More often than not, that is to keep a pick from remaining in or going on to play college ball.
A total of 615 players were drafted this year. Back when teams paid a then-record $316,560,984 in 2019, a total of 1,217 players were picked in 40 rounds.
Here is what each team spent the past two years and their decrease or increase in spending in 2024 over 2023:
DECREASES
Detroit Tigers, $17,677,450 t0 $13,712,500: -$3,964,950
Seattle Mariners, $13,990,500 to $10,479,900: -$3,510,600
Texas Rangers, $11,442,900 to $8,252,600: -$3,190,300
San Francisco Giants, $11,433,525 to $8,927,350: -$2,506,175
Tampa Bay Rays, $12,172,100 to $9,727,600: -$2,444,500
Miami Marlins, $13,692,400 to $11,360,000: -$2,332,400
Minnesota Twins, $15,245,600 to $13,136,650: -$2,108,950
Pittsburgh Pirates, $17,123,300 to $15,370,525: -$1,752,775
Los Angeles Dodgers, $ 8,583,000 to $ 7,418,800: -$1,164,200
Houston Astros, $ 8,234,500 to $7,515,412: -$719,088
Atlanta Braves, $ 9,988,500 to $9,453,100: -$535,400
Washington Nationals, $16,150,000 to $15,925,200: -$224,800
INCREASES
Milwaukee Brewers, $12,498,100 to $12,504,900: +$6,800
Boston Red Sox, $11,851,200 to $12,250,000: +$398,800
Kansas City Royals, $14,002,200 to $14,594,600: +$592,400
Chicago Cubs, $10,695,000 to $11,481,900: +$786,900
Oakland Athletics, $15,882,600 to $16,908,900: +$1,026,300
New York Mets, $ 9,869,850 to $11,018,000: +$1,148,150
Baltimore Orioles, $11,414,800 to $12,691,800: +$1,277,000
Arizona Diamondbacks, $12,055,000 to $13,462,000: +$1,407,000
Philadelphia Phillies, $ 6,761,100 to $8,784,400: +$2,023,300
Cincinnati Reds, $15,321,500 to $17,665,800: +$2,344,300
Toronto Blue Jays, $7,856,185 to $10,356,050: +$2,499,865
New York Yankees, $ 6,970,900 to $9,688,190: +$2,717,290
San Diego Padres, $ 7,161,600 to $11,014,600: +$3,853,000
Los Angeles Angels, $10,015,225 to $13,990,500: +$3,975,275
St. Louis Cardinals, $ 7,618,500 to $11,739,100: +$4,120,600
Colorado Rockies, $13,192,450 to $18,206,100: +$5,013,650
Chicago White Sox, $10,967,800 to $16,292,500: +$5,324,700
Cleveland Guardians, $10,221,275 to $20,416,100: +$10,194,325
What A Difference!
The very first player ever selected by Cleveland was Marion (Ill.) High School catcher Ray Fosse. He got $28,000 to sign as the seventh overall selection in the inaugural MLB Draft in 1965. The top pick overall, Arizona State outfielder Rick Monday, received $100,000 from the Kansas City Athletics
