TUESDAY: McGuire received $2.369MM from the Pirates, according to Baseball America's Jim Callis (on Twitter), so the Pirates saved about $200K.

MONDAY: The Pirates have agreed to a deal with first round draft pick Reese McGuire, Travis Sawchik of the Pittsburgh Tribune-Review reports. According to Mark Zender, McGuire's high school coach, McGuire is on his way to Pittsburgh in order to take his physical and will officially sign tomorrow. The contract is believed to be worth close to the assigned slot value (via Baseball America) for the 14th overall pick, which is just under $2.57MM. McGuire is advised by Adam Karon and Tripper Johnson of Sosnick Cobbe Sports.

McGuire, a left-handed hitting catcher, was rated as the draft's 10th-best prospect by both MLB.com and Baseball America, and was rated 19th by ESPN's Keith Law (Insider subscription required). The Kentwood High School product drew praise for his throwing arm, defensive skills and overall game-calling abilities behind the plate. While his hitting is still somewhat unpolished, BA notes that "even if he doesn't reach his offensive ceiling, McGuire's defense will allow him to be a big league backup, but if he hits he has all-star potential."

Once McGuire's deal is finalized, he will be the 16th of 33 first rounders to sign. One of the unsigned is Austin Meadows, the Pirates' other first round selection — the Bucs received the ninth overall pick as compensation for failing to sign Mark Appel following the 2012 draft.