The 2012 First Year Player Draft was the forty-eighth Major League Baseball Amateur Draft. It took place from June 4-6, 2012.
The rules governing the draft were altered as the result of the new Collective Bargaining Agreement reached the previous off-season. Among the changes, teams now had a set pool of money from which to pay all signing bonuses to players drafted in the first 10 rounds, with teams higher in the drafting order receiving more money from the pool; bonuses for players drafted later were capped at $100,000. Also, the deadline for signing players was moved up from August 15th to July 13th. Additionally, the draft shrunk from 50 rounds to 40 rounds.
The move in the signing deadline paid immediate dividends, as top pick Carlos Correa signed with the Houston Astros within two days, as did two other first rounders, something that had been unheard of in recent years. Only one first rounder failed to sign by the deadline, and overall spending on top picks dropped from $233.6 million to $203.7 million, an 11% reduction compared to the 2011 draft; the drop on spending on first rounders was even more pronounced, from $89.5 milion to $74.3 million, or 17% less. 10 teams exceeded their bonus pool and were levied a combined $1.5 million in luxury tax penalties, but no team went so far overboard as to lose its top pick in the next year's draft, something that was now possible as a result of the changes. "We think that the system performed well in its initial year," said Rob Manfred, Major League Baseball's executive vice president of economics and league affairs, after the conclusion of the signing period. But critics argued that the drop in spending was more a function of a relatively weak talent pool than because of the new rules.
 Draft Order
 First Round
 Supplemental First Round
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