MLB Draft 2016: Dodgers reportedly sign 3rd-round pick Dustin May to $1 million bonus

The 2016 MLB Draft is still going on, but the Dodgers reportedly already have reached agreement with one of their top picks. Third-round selection Dustin May, a right-handed high school pitcher from Texas, has reportedly agreed to terms on a $1 million bonus, per Jim Callis of MLB.com.

The Dodgers have not commented nor have they reported any signings, which makes sense because the team won't announce any deals until the contract is signed and physical completed, which at the very least would likely take a few days.

A solid fastball, hitting 93-94 mph, a high spin rate, and a commitment to Texas Tech give the 6'6 redhead a fair amount of leverage, which explains the reported bonus.

May was picked with the 101st overall selection in the draft, with an allotted slot bonus of $590,800. That puts the Dodgers $409,200 over slot at the moment, but that's not that big of a deal. For one thing, a number of their other 11 picks in the first 10 rounds will be under slot, leaving room to go over on other signings.

But let's say hypothetically that every other pick signed for exactly their slot amount. That won't happen, obviously, but even if it did the Dodgers' large bonus pool affords them some leeway. Their total pool is $9,336,500, and they can go up to but not quite five percent over without losing a draft pick as a penalty. That gives them another $466,824 to spend, which would only incur a 75-percent overage tax.

The overage amount of May's reported bonus fits well within that range.