Lucas Giolito and Washington Nationals Agree on $2.925 Million Contract

First-round pick Lucas Giolito and the Washington Nationals took negotiations dangerously close to the wire on Friday afternoon, but in the end they were able to agree upon a $2.925 million signing bonus, according to Keith Law:

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Nats sign Giolito. $2.925 million.

— keithlaw (@keithlaw) July 13, 2012

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The recommended slot bonus for the No. 16 overall pick is $2.1 million, but the Nationals needed to offer slightly more to ensure that Giolito would sign.

An elbow injury Giolito suffered in March hurt his draft stock out of high school. He was expected to be the top pitcher available but instead fell to the Nationals at No. 16.

They did not hesitate to draft him.

Giolito had encouraging words regarding his elbow injury after being drafted, saying in a conference call (h/t Ben Nicholson-Smith of MLB Trade Rumors): "I'm confident that this issue is behind me. I'm looking forward to getting on the mound soon."

Giolito possesses a fastball that can easily touch 99 mph, though it routinely sits between 94 and 96 mph. Baseball America claims that he also throws a plus-plus curveball and a plus changeup.

It'll be a few years before we see Giolito on the mound in Washington, but it will certainly be an exciting time for the franchise when he is ready to make his debut.