AP source: MLB to cut amateur draft from 40 rounds to 5

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NEW YORK (AP) - A person familiar with the decision tells The Associated Press that Major League Baseball will cut its amateur draft from 40 rounds to five this year.

The move figures to save teams about $30 million. Clubs gained the ability to reduce the draft as part of their March 26 agreement with the players’ association and MLB plans to finalize a decision next week to go with the minimum.

There will be just 160 players drafted, and the combined value of their signing bonus pools is $236 million. The start of the draft will remain June 10.