As many of you are aware, 5PM today is the last time 2013 draft picks can sign. The Phillies are still negotiating with Ben Wetzler, (5th) and they are not expected to sign Jason Monda (6th), but Jim Callis from BA just broke news on Twitter that 11th Rounder Denton Keys has signed, for an amount (not stated) that will put the Phillies into the bonus pool tax. That’s a 50% tax on every dollar spent over the allotted bonus pool, up to 5% over the pool, after which a 1st-round-draft-pick penalty is assessed, (not happening with a guy like Keys). This year’s bonus pool is floating at the moment until we know if Wetzler signs, and 11-40th rounders get the first $100k without changing the pool. So while we don’t know if Wetzler will sign, we can assume Keys’ bonus is somewhere north of $275k and less than $540k.
I’ll update this thread later with any other news, and link you to the final calculations when it’s complete. You can check out the draft tracker by clicking on the draft link at the top and picking 2013.
Just after 5pm, and Callis is reporting Ben Wetzler is going back to school. Rodney Dangerfield would be proud. As a Phillies fan, not so much. Also Callis is reporting Keys’ bonus to be $350k, which puts the Phillies $73,500 over their allotment, costing them $36,750 in tax.
Looks like 30th Rounder Venn Biter has signed as well. He retweeted a photo of him signing and congrats from his people. Thanks to commenter IHeartDomBrown below for posting that photo.