The Cleveland Guardians are set to make history in the upcoming 2024 MLB Draft, as they hold the highest assigned pick value ever recorded, following their Draft lottery win. The Guardians' No. 1 overall pick is valued at an astonishing $10,570,600, surpassing the previous record of $9,721,000 set by the Pittsburgh Pirates a year prior.

The assigned value for each pick in the first 10 rounds of the Draft has risen by 8.7 percent, reflecting the growth in MLB revenues. This increase has contributed to the record-breaking value of the Guardians' top selection. Despite having the ninth-best odds in the lottery, the Guardians emerged as the winners and now possess the largest total allotment since the bonus-pool era began in 2012.

The bonus-pool era refers to a system where each team's selections in the first 10 rounds of the Draft are assigned a value. This assigned value determines how much a club can spend within those rounds without incurring penalties. If a player taken in the top 10 rounds does not sign, his pick's value is subtracted from his team's pool.

Traditionally, teams near the top of the Draft tend to spend less than the assigned value for their picks and utilize the savings to offer more lucrative contracts to later selections. However, teams that exceed their bonus pool face penalties. If a club outspends their pool by 0-5 percent, they pay a 75 percent tax on the overage. Higher thresholds result in the loss of future picks, including first-rounders and a 75 percent tax for surpassing the pool by more than 5 and up to 10 percent, first- and second-rounders plus a 100 percent tax for exceeding 10 and up to 15 percent, and two first-rounders and a 100 percent tax for going over 15 percent.

With the Guardians' historic assigned value for the No. 1 overall pick, they have a significant advantage in securing top talent in the upcoming draft. Their four picks, the maximum allowed, put them among the busiest teams on the first day, along with the Diamondbacks, Brewers, and Twins.

The 2024 MLB Draft promises to be an exciting event as teams strategically navigate their bonus pools to maximize their selections. As the Guardians lead the way with their unprecedented assigned value, baseball fans eagerly await the outcomes of this highly anticipated draft.