Major League Baseball has announced the Mets will have $6.99 million to spend on the 2013 draft, representing the tenth largest sum among Major League teams.
The bonus pool covers the first ten rounds of the draft — the Mets have 11 picks in the first ten rounds, and the 11th overall selection in the 2013 first-year player draft, which takes place from June 6 – 8.
“A team that exceeds its bonus pool by 0-5 percent must pay a 75 percent tax on the overage,” Jim Callis of Baseball America explains. “The penalties get much harsher after that: the loss of a first-round pick and a 75 percent tax for blowing past a bonus pool by more than 5 and up to 10 percent; the loss of first- and second-rounders and a 100 percent tax for more than 10 and up to 15 percent; and the loss of two-first-rounders and a 100 percent tax for more than 15 percent.”
Michael Baron, ContributorThe pool money was a big part of the reason the Mets were reluctant to sign a player who received a qualifying offer during the off-season. Yes, the Mets would have lost the 11th overall selection in this year’s draft, but they would also have lost about $2.6 million of their pool money for such a player, leaving them with picks only beyond the first round and one of the smallest pools in the league. The Mets are still in a transitional phase, and with a farm system barren of position players on the cusp of the big leagues, the Mets simply can’t afford to sacrifice front-line draft picks for veteran free agents just yet.
For more on the draft, check out Baseball America.