There are some rich former Oregon State baseball players out there this weekend. Specifically, all six of the former Beavers selected in the 2018 MLB Draft have now signed with their respective teams after agreeing to a signing bonus. Here’s what each former Beav received as a signing bonus.
Drew Rasmussen: Milwaukee Brewers-$135,000
Nick Madrigal: Chicago White Sox-$6.4 Million
Cadyn Grenier: Baltimore Orioles-$1.8 Million
Steven Kwan: Cleveland Indians-$185,000
Michael Gretler: Pittsburgh Pirates-$50,000
Trevor Larnach: Minnesota Twins-$2.55 Million
Oregon State signee Jayce Easley also signed with the Texas Rangers earlier this summer for a $500,000 signing bonus.
Curious how MLB rookie contracts work? There’s a more detailed explanation here from SBN’s Detroit Tigers blog Bless You Boys, but basically that signing bonus is the most money that these guys are going to see for a bit until they get a real MLB contract. All these players will be in the minors for a while and MiLB teams don’t exactly pay millions. A player has six seasons after signing to make a MLB roster before they become a free agent.
From this group, Madrigal and Larnach have probably the best shot of prolonged careers in the majors. Both were first round selections this year and are coming into situations where their respective teams could use them sooner rather than later.
Regardless, congrats to all these former Beavs on a nice little pay day. Don’t spend it all in one place.