Last week’s MLB draft opened the doors to an unusual wave of player acquisition.
The draft was the shortest in history—five rounds, instead of its usual 40—thanks to an agreement finalized last month as owners sought to cut costs amid the coronavirus. It came with a framework to address the slew of players who would be left as undrafted free agents: Teams could extend unlimited offers with a maximum signing bonus of $20,000. As a result, hundreds of young men who otherwise would have been drafted with far more substantial sums (between $200,000-300,000 for sixth rounders) were instead left on the market, getting offers from teams who could not differentiate themselves with extra cash.