MLB reduces draft to just five rounds

Major League Baseball will cut its amateur draft from 40 rounds to five this year, a move that figures to save teams about $30 million (U.S.). There will be just 160 players drafted, by far the fewest since the annual selection started in 1965, and the combined value of their signing bonus pools is $235,906,800. The start date of the draft will remain June 10 and the deadline to sign likely will be pushed back from July 10 to Aug. 1.