Per MLB.com's Jim Callis, Torkelson's $8,415,300 signing bonus is the largest given to a drafted player since Major League Baseball implemented the bonus pool system in 2012.
Slot value for the No. 1 overall pick this year was $8,415,300, which Callis noted also makes Torkelson the first top choice to receive full slot under this system.
The previous record-holder for the largest bonus in the slotting system was Adley Rutschman, who received $8.1 million from the Baltimore Orioles last year.
Stephen Strasburg holds the overall record for most guaranteed money at signing when he inked a deal with the Washington Nationals in 2009 for $15.1 million. The right-hander received $7.5 million at signing and three payouts of $2.5 million from September 2009 to January 2011.
The Tigers clearly hold Torkelson in high regard after making him the No. 1 pick.
MLB Network's Jon Heyman noted the Arizona State alum will "likely" be added to Detroit's 60-player pool for the season restart. The team's initial list includes 58 players, but it was released before Torkelson was officially under contract.
In three seasons at Arizona State, Torkelson hit .337/.463/.729 with 54 home runs, 130 RBI, 110 walks and 104 strikeouts.