The Colorado Rockies announced Wednesday that the club has agreed to terms with Oklahoma pitcher Jonathan Gray, the third overall selection in last week's First-Year Player Draft.
Financial terms of the contract were not disclosed. Major League Baseball had assigned the slot value of the No. 3 overall pick as a $5.6 million signing bonus.
One of college baseball's top pitchers this season, Gray went 10-2 with a 1.59 earned run average as a junior for the Sooners and ranked second among NCAA Division I hurlers with 138 strikeouts in 119 innings pitched.
The 21-year-old had been considered a candidate for the top overall selection, which the Houston Astros opted for Stanford right-hander Mark Appel.
Gray is expected to begin his pro career with Colorado's Rookie League affiliate in Grand Junction, CO later this summer.
The Rockies also designated outfielder Eric Young Jr. for assignment prior to Wednesday's game against the Washington Nationals, while recalling pitcher Chris Volstad.
Young batted .316 with four home runs and 14 stolen bases as a utility player for the Rockies last season, but was hitting just .242 with one homer and eight steals so far in 2013.
Volstad, a 12-game winner with the Marlins in 2010, allowed six runs and 13 hits over 6 1/3 innings in four relief appearances with Colorado earlier this season. The right-hander was 3-1 with a 5.31 ERA in eight starts with Colorado Springs.