PHILADELPHIA -- Phillies prospect Mickey Moniak is signed and ready to begin his professional baseball career.
The Phillies announced Monday afternoon they had signed the No. 1 overall pick in the 2016 Draft. Two sources told MLB.com that Moniak agreed to a $6.1 million signing bonus, which is well under the $9,015,000 allotted for the pick. The Phillies will use the savings there to sign second-round pick Kevin Gowdy, a right-hander who has committed to UCLA. The 42nd overall pick is allotted $1,536,200. Gowdy, who could agree as early as Tuesday, could receive in the neighborhood of $3 million.
• 2016 Draft signing and bonus tracker
Moniak's $6.1 million bonus is less than what No. 2 overall pick Nick Senzel received from the Reds, who gave the University of Tennessee third baseman a $6.2 million bonus.
Moniak took his physical Monday in Philadelphia. The team tweeted photos of Moniak signing his contract with his family and Phillies general manager Matt Klentak in the evening. A news conference was held Tuesday at Citizens Bank Park.
Moniak is expected to begin his career with the Gulf Coast League Phillies.

Moniak is a 6-foot-2, 185-pound left-handed hitter from La Costa Canyon (Calif.) High School. His stock started to rise last summer and continued to rise through the spring. He hit .476 with 12 triples, seven home runs, 46 RBIs and a .921 slugging percentage in his senior year. The Phillies scouted him extensively, with everybody from Pat Gillick to Charlie Manuel, two of the club's senior advisors, meeting with Moniak on more than one occasion.
"The No.1 pick has always been a dream," Moniak said June 9. "Up until the point where the Commissioner said my name, it was all a mystery. When it happened, it was unbelievable."
Moniak is most often compared to Marlins outfielder Christian Yelich. He is a talented hitter who possesses gap power and is an above-average runner who has the potential to be a Gold Glove-caliber center fielder. Moniak is not a big guy, so scouts wonder if he will hit for power in the big leagues. Phillies amateur scouting director Johnny Almaraz said he thinks Moniak will hit 15-22 homers in the big leagues.
"I think you'll have a Gold Glove center fielder who will hit in the middle of the lineup and be a leader on the team," Almaraz said.
Moniak is the sixth outfielder to be selected first overall since 1986. The previous five are Bryce Harper (2010), Delmon Young ('03), Josh Hamilton (1999), Darin Erstad ('95) and Ken Griffey Jr. ('87). The Phillies selected Pat Burrell with the first overall pick in '98, although he was officially listed as a third baseman.