Paul Skenes Contract Details: Pirates top pick receives largest signing bonus in MLB history

Paul Skenes just made MLB history. The standout LSU Tigers starting pitcher was selected with the first overall pick by the Pittsburgh Pirates. While being selected with the top pick will etch his name forever in history, the talented pitcher finds himself with a new MLB record without playing a single game yet.

The 21-year-old from Fullerton, California just secured the largest rookie signing bonus in MLB history. The Pittsburgh Pirates and Paul Skenes reached an agreement valued at $9.2 million, $500,000 short of the slot value of this year's first-overall pick, which was set at $9.721 million.

"No. 1 overall pick Paul Skenes signs w/@Pirates for $9.2 million (pick value = $9,721,000). Breaks @MLBDraft record of $8,416,300 (Torkelson, 2020). @LSUbaseball RHP, ranks w/Strasburg as best Draft pitching prospect ever. Fastball up to 102 mph, wipeout upper-80s slider." - @jimcallisMLB

Skenes' signing bonus with the Pittsburgh Pirates surpassed that of Spencer Torkelson of the Detroit Tigers. The hard-hitting first baseman secured a signing bonus of $8,416,300 after being selected with the first overall pick in the 2020 MLB Draft.

Last year, the first overall pick had a slot value of $8,846,900, however, Holliday's signing bonus turned out to be $8,190,000, which was the second-highest of all time prior to the Skenes announcement.

"O's welcome top pick Holliday with $8.19M bonus: The Baltimore Orioles introduced No. 1 overall pick Jackson Holliday, who signed a contract Wednesday with an $8.19 million signing bonus." - @JCPGATA

Given the increase in the signing bonuses landed by Spencer Torkelson, Jackson Holliday, and Paul Skenes, it's likely that this number will continue to grow each year, or at least remain in the same ballpark.

Paul Skenes has been billed as the best pitching prospect since Stephen Strasburg

While sometimes it is unfair to place too much pressure on an unproven rookie, some have already done so with Skenes. Some experts believe that the LSU Tigers' pitcher is the best prospect since Washington Nationals legend Stephen Strasburg.

There is a possibility that we may never see Strasburg take the field again given his struggles with severe nerve damage and thoracic outlet syndrome. However, the much-hyped prospect somehow managed to live up to his tremendous potential, helping the Washington Nationals secure a World Series title in 2019.

If Skenes can touch the heights that Strasburg did in his career, the Pittsburgh Pirates will have made the perfect decision by drafting him first overall.