Aug. 15, 2007
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(AP) – Top pick David Price and the Tampa Bay Devil Rays agreed to an $11.25 million, six-year contract Wednesday, hours before the midnight deadline for teams to lock up their draft selections.
Price, a hard-throwing lefty out of Vanderbilt, gets a $5.6 million signing bonus and is guaranteed $8.5 million as part of the deal.
After earning a $500,000 salary this year, the pitcher will have split contracts from 2008-2012 — meaning his salary will depend on whether he’s in the majors or minors. Also, he can void his salary and file for arbitration any year in which he’s eligible.
Price was drafted No. 1 overall in June by the Devil Rays after going 11-1 with a 2.63 ERA and a Division I-leading 194 strikeouts in his junior season for the Commodores. He swept every player of the year award after the 2007 seasons as the nation’s best amateur baseball player.
Price became the fourth left-handed pitcher to be taken with the top pick, and first since Brien Taylor went to the New York Yankees in 1991.
