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So the Aug. 15 signing deadline really isn’t a deadline after all.

More than a month after the actual signing deadline passed, the Pirates and Pedro Alvarez, the No. 2 overall pick in the draft, agreed to the parameters of a new contract. The deal, reported first by the Pittsburgh Post-Gazette, gives Alvarez a major league contract that is worth a guaranteed $6.355 million. Alvarez initially had accepted a straight $6 million from bonus, either just before or just after–according to the source–the midnight ET deadline on Aug. 15.

While the Post-Gazette reported that the contract’s present value is closer to $5.67 million, BA has learned from another source in the industry that Alvarez will make nearly $1 million more than the original deal would have paid him before he become arbitration-eligible. The discrepancy results from different accounting methods, though it seems unlikely that the Scott Boras Corp. would have negotiated a lesser deal after believing its client had been wronged.

Alvarez never signed his original bonus agreement, and Boras argued that the former Vanderbilt third baseman had reached the deal after the midnight deadline, in violation of collectively bargained draft rules because Major League Baseball unilaterally extended the signing deadline without consulting the Major League Baseball Players Association. The MLBPA agreed and filed a grievance on Alvarez’s behalf. The first hearing on the grievance was held Sept. 10.

Sunday night’s agreement may reflect that the Pirates and MLB thought they had a lot to lose if the grievance was resolved. The Pirates didn’t want to risk having Alvarez become a free agent–or at least become ineligible to sign with them–and they do after all get the draft’s No. 1 talent, as rated by Baseball America, into their organization.

Major League Baseball didn’t want Alvarez to become a free agent either, and if it had to lean on former employee Frank Coonelly, now the Pirates’ president, to give Alvarez a little extra cash, then that’s better than having another player poke holes in the draft process.

Alvarez now actually gets to play baseball and get paid for it.

What does Boras get out of it, other than a hefty commission? A contract number that he can claim is the largest out of the 2008 draft, at least on its face larger than the $6.2 million bonus that Buster Posey and his agents at Creative Artists Agency got from the Giants.

Contributing: Jim Callis.

Is there a writer that will ever have the guts to attack Boras and say that he has screwed something up? Plain and simple, Boras got less money presently for his client than originally negotiated and it is not even a major league contract. Its not opinion on did he get more or not. Its a fact, he got Pedro less money. Why wont someone point this out?

Posted by Travis | September 22, 2008 at 11:27 am | Shortcut

So now there is a precedent for not signing your contract and negotiating a month after the deadline? MLB and the Player’s association agreed to this? I do not see how MLB can try and enforce a deadline in the future after allowing this to happen.

How can this new contract be considered valid under the current guidlines? Will the fact that Hosmer deal evidently exceeded the deadline just be thrown under a rug?

MLB and the PA need to get something set up before next years draft to insure this type of thing can not happen again.

Posted by Jeff V. | September 22, 2008 at 11:50 am | Shortcut

Incredible story, of course. Though it would have been interesting to hear exactly how the ruling would have come down, and whom would have benefited. Curious if this provides precedent to render the signing deadline as something only as useful as slotting. Additionally I would hope Pirates fans would welcome, even after these trying circumstances, the best hitter they have drafted since ’85.

Posted by Joe LeCates | September 22, 2008 at 12:26 pm | Shortcut

So this whole mess was over Alvarez getting an extra $400,000 and extending the length of the contract, which possibly means Alvarez getting less money in terms of prevent value than he would have originally.

If that isn’t proof positive that this was only about Boras’s ego and nothing else, this was it.

Posted by Justin | September 22, 2008 at 1:36 pm | Shortcut

Makes so much sense: Argue that the original deal should not be accepted since it was signed after the deadline, then be able to sign a new one much further after the deadlline! What am I missing here?!?

Posted by Dan | September 22, 2008 at 3:34 pm | Shortcut

This is just another example of Scott Boras being bad for baseball. He bends the rules and finds every loophole possible. What MLB needs is a finite slotted draft like the NBA. That way the bad teams get the good players, not the rich teams getting the good players. The MLB draft is turning into teams drafting on signability based on the agents representing them.

Posted by Lyle | September 22, 2008 at 4:17 pm | Shortcut

This deal personifies the unmitigated greed that is killing this sport and as the tipping point for me as a fan; I’m done with MLB. Many other major league sports are not far behind.

At a time when the economy is on the verge of collapse and average joes and janes are scared witless about losing jobs, health care and paying rent/mortgage, Boris with the consent of his clients, decide $6M isn’t enough for a good but unproven talent. Boris could care less how many fans they alienating along the way in pursuit of another $300,000 – $1M.

I’m tried of the greed, self-promotion and self-centeredness. I no longer want to make the sacrifices to pay the high prices associated with the combination of ticket, gas, parking, and food. I’ll focus more on family (I couldn’t afford to take them all to more than one game a year anyway), and we’ll focus our attention on enjoying each other in other ways as opposed to watching wealthier people playing in a venue we (taxpayers) funded.

Boris and his ilk are today’s Gordon Gecko’s – Greed is good…for killing a sport just like today’s economy. Like Wall Street, a day of reckoning will come for MLB. Its already come as far as I’m concerned.

Adios MLB

Posted by Dennis | September 23, 2008 at 5:35 am | Shortcut

I just think it is a complete shame. All parties should be ashamed of themselves. Alvarez lookes like the enemy now and Boras is just a greedy fool.

Posted by Wole | September 23, 2008 at 11:57 am | Shortcut

BASEBALL IS OUT OF CONTROL! These guys have not played “one” inning of Major League Baseball and probably don’t have to and they will still be millionaires. And they say we do not pay amatuer athletes. Sure!

Posted by Baseball member | September 23, 2008 at 2:23 pm | Shortcut

What it comes down to is the ongoing battle between the MLBPA and the MLB. Scott Boras works hard to make his clients money and in turn makes money himself. This concept does not have to be interpreted as greed. Baseball players work for a living just like anyone else and it is understandable that they will push to get paid as much money as is reasonable or attainable. As long as Boras keeps fighting these battles with MLB, and winning, he will continue to have the backing of the MLBPA. Say Boras is bad for baseball if you want, but if you look at the bigger picture you’ll see he is good for the players he represents.

Posted by Tim | September 23, 2008 at 10:50 pm | Shortcut