Pirates will have highest slot value ever with No. 1 overall draft pick, 3rd-highest bonus pool

The Pittsburgh Pirates will have the highest slot value ever for the No. 1 overall pick and the third-highest bonus pool to use for the 2023 MLB Draft, per a report by MLB.com.

After winning the inaugural draft lottery, the Pirates learned Tuesday that the slot value for the first pick is $9,721,000 — a $1,379,300 difference from their projected No. 3 spot — and they will have a $16,185,700 bonus pool to sign their draft picks.

“First time, it was exciting to be a part of it. Obviously you don’t know you’re going to be No. 1, so you really get to be a part of it when you’re No. 1,” Pirates general manager Ben Cherington said in December. “It is kind of exciting. We’ll think back, and we got that first chair in the first lottery. Every once in a while, in this business, you get a break against you. And every once in a while you get a break go for you. We got one.”

Related

• Pirates 'incredibly excited, honored' to win inaugural lottery for No. 1 overall pick in 2023 MLB Draft
• Pirates pick prep middle infielder Termarr Johnson with No. 4 overall pick in MLB Draft
• 'You can't outsmart the draft': Pirates focus on best player available with No. 4 overall pick

Only the 2015 Houston Astros ($17,289,200), who had two of the top five picks, and the 2022 Baltimore Orioles ($16,933,000) have had higher bonus pools in major-league history. The Orioles awarded the biggest signing bonus ever to No. 1 overall pick Jackson Holliday, signing the prep shortstop for $8,190,000.

When the Pirates had the No. 1 overall pick in 2021, they spent their entire $14,394,000 bonus pool but signed Louisville catcher Henry Davis to a $6.5 million bonus, which was $1.9 million below slot value.

The Pirates used the savings to sign four other top-100 prospects in prep pitchers Anthony Solometo (second round) and Bubba Chandler (third round) and prep outfielders Lonnie White Jr. (competitive balance round B) and Braylon Bishop (14th round).

Last year, the Pirates had a lower bonus pool ($13,741,300) but awarded a higher signing bonus ($7.219 million) to the No. 4 overall pick, Atlanta prep middle infielder Termarr Johnson.