Astros sign MLB’s top pick Carlos Correa for $4.8 million

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HOUSTON — Carlos Correa, taken by Houston with the top pick in this week’s amateur draft, has agreed to a contract with the Astros for a signing bonus of $4.8 million

The deal announced Thursday for the 17-year-old shortstop is the first for a top pick since the new collective bargaining agreement that places restraints on spending for selections in the first 10 rounds. It is the lowest guarantee for a top selection since Kansas City gave pitcher Luke Hochevar $3.5 million in 2006.

Under the labor deal, agreed to in November, the recommended slot value for the top pick was $7.2 million. The values of the slots for a team’s picks in the first 10 rounds are added up, and teams exceeding their totals are penalized with a tax and possibly the loss of future draft picks,

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