Negotiations between the Pittsburgh Pirates and their top pick from the 2012 MLB Draft Mark Appel went down to the final seconds, however the two sides could not reach a deal, with Appel turning down a reported offer of $3.8 million, according to Jim Callis of Baseball America.
In a statement he released, Appel explained the reasoning of his decision.
"After much thought, prayer & analysis of both opportunities, I came to the conclusion the best decision is to remain at Stanford continuing my studies, finishing my degree & doing all I can to assist the Cardinal baseball team in our goal to win nat. championship"
Pittsburgh Pirates General Manager Neil Huntington also released a statement, explaining that the Pirates offered every last dollar they could to Appel without losing picks in next-year's draft.
"Our final offer exceeded the available bonus pool money and was essentially up to the last dollar we could offer prior to falling into the second tier penalty which would have resulted in the loss of a first round draft selection... [W]e simply did not feel it was in the best interest of the organization to forfeit our first round selection in the 2013 amateur draft."
The Pirates will now have the ninth selection in the 2013 MLB Draft as compensation in addition to the pick they receive based on their final place in the standings at the conclusion of the 2012 season.