Blue Jays assigned budget to sign Draftees
TORONTO -- The Blue Jays will have a total of $9,458,500 to spend on 11 picks in Major League Baseball's First-Year Player Draft this June.
Toronto's total draft-pool allotment ranks fourth in baseball. Miami ranks first with $14,199,300 to spend on 13 picks, and the White Sox second with $13,362,200 to spend on 11 picks.
The Blue Jays have the ninth and 11th picks in the first round. The first selection is because of where they finished in the standings, while the second is compensation for the club not signing last year's first-round pick, Phillip Bickford.
The Draft pools cover the top 10 rounds and any bonus money in excess of $100,000 given to players taken in rounds 11-40. If a player selected in the first 10 rounds doesn't sign, his assigned value is subtracted from his team's pool. There are penalties for exceeding Draft bonus pools.
The international bonus pools cover signings from July 2 through June 15 of the following year. Players who are at least 23 years old and have played in a professional league recognized by the Commissioner's Office (such as in Cuba or Japan) for a minimum of five seasons don't count against the pool, nor do players who sign for $10,000 or less.
Clubs are penalized for exceeding their allotments for international players, but not as harshly as they are with the Draft. Any overage is taxed at a 100-percent rate. In addition, teams can't sign a player in the next signing period for more than $500,000 if they surpass their pool by more than five percent and up to 10 percent; can't sign a player in the next signing period for more than $300,000 if they go over by more than 10 percent and up to 15 percent; and can't sign a player in the next two signing periods for more than $300,000 if they exceed their allotment by more than 15 percent.