The Phillies have agreed to terms with third-round pick Cord Sandberg, the outfielder told John Lembo of his hometown Bradenton Herald.

Sandberg, who was selected 89th overall, will receive a $775K signing bonus plus the monetary equivalent of a full scholarship to Mississippi State, where he was committed to attend college. He had been offered a full scholarship as a quarterback recruit for the Bulldogs. The assigned pick value for the No. 89 overall selection was $593,400, per Baseball America, so Sandberg will be signed well above slot value.

Sandberg, who is being advised by Excel Sports Management, has until July 12 to officially sign a contract, though that appears to be little more than a formality at this point. He ranked 40th on Baseball America's Top 500 draft prospects, 53rd on Keith Law's Top 100 and 56th on Jonathan Mayo's Top 100. He projects to have good power from the left side of the plate and has enough speed to be a defensive asset in the outfield.