MLB Draft 2016: Start Time, Live Stream Info For Rounds 3-10; How Much Are First-Round Picks’ Contracts?

The long road to the majors begins this week for over 1,000 baseball players with the start of the 2016 MLB draft. While most players in the minor leagues are making salaries that don’t compare to the MLB minimum, Thursday’s draft potentially earned more than 50 players seven-figure contracts.

There isn’t a designated amount of money that MLB teams must pay their respective draft picks, but there are assigned values for each selection in the first 10 rounds. Teams that give out contracts that add up to more than the total of those values are forced to pay a penalty, therefore the draftees usually make slightly less than what their draft position has been valued.

The Philadelphia Phillies selected outfielder Mickey Moniak from La Costa Canyon High School in Southern California with the first pick in 2016, a pick that MLB has valued at $9.015 million. Moniak will likely sign a contract worth slightly less, and the two sides have until July 15 to agree on a deal.

A year ago, No. 1 overall pick Dansby Swanson signed a $6.5 million contract with the Arizona Diamondbacks after his spot in the draft was valued at $8,616,900 by MLB. In 2013, the Houston Astros gave the top pick $6.35 million, about $1.44 million less than the assigned value. Houston was unable to come to terms with the No. 1 pick in 2014, pitcher Brady Aiken, and he was taken No. 17 overall by the Cleveland Indians last year.

Gerrit Cole set a record with an $8 million signing bonus in 2011. He made his MLB debut two years later, becoming an All-Star in 2015.

MLB Draft — The Arizona Diamondbacks gave least year's No.1 pick, Dansby Swanson, a $6.5 million contract. Getty

If Moniak signs for 75.4 percent of his pick’s value as Swanson did in 2015, he’ll make $6,800,299 on his deal. No. 2 pick Nick Senzel will earn $6,172,573 if he signs for the same percentage of his value as last year’s second overall pick. Ian Anderson, who was drafted third overall, will make $5,754,085 based on the 2015 draft.

The value of the draft picks increases each year in accordance with the growth in MLB’s revenue. The 2016 picks increased by 4.62 percent compared to last year.

With 34 picks in the first round, the values go from $9.015 million at No. 1 to just over $2.5 million halfway through the opening round. The 34th and final pick of the first round, Mississippi State pitcher Dakota Hudson, is valued at $1.878 million. The seven picks in the supplemental first round have values ranging from $1,837,200 to $1.576 million.

Thursday saw MLB draft the first two rounds, including the supplemental rounds, which accounted for 77 picks in all. The lowest pick to be valued at more than $1 million was the No. 64 selection by the New York Mets, who went with Florida first baseman Peter Alonso.

Round 3 through Round 10 are scheduled for Friday, and while the first two rounds were broadcast on TV, Day No. 2 of the draft can only be seen with a live stream at mlb.com, starting at 1 p.m. EDT. The draft concludes on Saturday with the final 30 rounds, also to be broadcast online at mlb.com, starting at noon.

First-Round Values

1. Phillies: $9,015,000

2. Reds: $7,762,900

3. Braves: $6,510,800

4. Rockies: $5,258,700

5. Brewers: $4,382,200

6. Athletics: $4,069,200

7. Marlins: $3,756,300

8. Padres: $3,630,900

9. Tigers: $3,505,800

10. White Sox: $3,380,600

11. Mariners: $3,286,700