SI’s Jon Heyman first reported just after midnight that the Pirates had signed both Gerrit Cole and Josh Bell.

Cole, who was the 1st overall pick in the draft out of UCLA will receive an $8 million signing bonus, which is the highest bonus in draft history. He also signed a Minor League deal so he won’t even have to be added to the 40-man roster.

Josh Bell has signed for $5 million, which is the largest ever bonus given out to someone not drafted in the first round, breaking the previous record set by the Pirates and Stetson Allie last season. Bell was ranked as the 15th best player in the draft but fell after writing a letter to every team telling them not to draft him. It looks like Bell’s letter worked as he reaped huge rewards with his bonus.

The Pirates will have spent around $17 million this draft when all the dust settles, making it the largest draft expenditure in team and league history.

Pirates Prospects reported today that the Pirates have signed their 37th round pick Rodarrick James. James is an outfielder from Southern College.

Compared to other college draftees, Jones looks to be more of a project as he is not quite as polished as his peers. However, he is very athletic and is very toolsy. It looks like he will start out in the GCL, which tells you a lot about where he is at as almost no college draft picks are sent there.

With the signing of Glasnow and Jones today, the Pirates have now signed 20 players from this year’s draft.

Jim Callis of Baseball America reported today that the Pirates have signed their 5th round pick Tyler Glasnow. Glasnow’s signing bonus will be $600,000, which is the largest bonus given out to anyone in the draft after the top 65 picks.

Glasnow is a RHP from Hart High School in California and had a commitment to Portland. Here’s what Baseball America has to say on Glasnow:

Tyler Glasnow, a projectable 6-foot-7 righthander, comes from an athletic family. His mother was a gymnast at Cal State Fullerton and the gymnastics coach at Cal State Northridge, and his brother Ted is a decathlete at Notre Dame. Glasnow is still growing into his huge body, but he reportedly ran his fastball into the low 90s this spring, though scouts say his fastball ranged from 83-89 mph more often, sitting in the mid-80s. He flashes a curveball that has a chance to be average and the makings of a slider and a changeup, but he rarely uses the change. His command has a long way to go, and he is regarded as a high-risk prospect who could provide a high reward if he can harness his mechanics and command. He is committed to Portland.

Pirates Prospects is reporting the Pirates have agreed to terms with 7th round draft pick Jake Burnette. Burnette is a RHP from Buford High School in Georgia and had a commitment to Georgia Tech.

Here is what Baseball America had to say on Burnette:

Georgia Tech’s recruiting class has plenty of projectable arms, starting with righthander Jake Burnette, whose older brother Chase played outfield for the Yellow Jackets. He is a lean 6-foot-4, 185-pounder who was a fine high school basketball player, helping Buford reach the state 2-A title game. His frame, long arms and big hands portend his stuff will get a grade better in the future. He has a clean delivery that produces 86-88 mph fastballs and soft curveballs presently. He could take off once he gives up basketball.

Burnette will be the Pirates’ 18th signee from the 2011 Draft and the 6th from the top 10 rounds.

UPDATE:
Burnette signed for a signing bonus of $550,000, which is well above slot, and is the 2nd highest bonus given out behind 5th rounder Tyler Glasnow’s $600,00 bonus.

The Pirates’ Twitter account announced today that they have signed their 3rd round pick from the 2011 Draft in 1B Alex Dickerson. Dickerson is the 17th player signed from this draft and is the highest pick to sign.

Dickerson was rated as the 42nd best prospect heading into the 2011 draft and surprisingly fell all the way to the Pirates in the 3rd round. As a sophomore at Indiana University in 2010, he won the Big Ten Triple Crown and was named a 1st team All-American.

This year, as a junior, he hit .367 with 9 homers, which was quite a drop off from his .419 AVG with 24 homers his junior season. He was troubled by injuries for the majority of the season, though.

Dickerson has plus power and very well could rank as the Pirates’ top power hitter in the Minors as soon as he puts on a jersey for State College, where he will begin his pro career.

UPDATE (7/17):
Alex Dickerson’s signing bonus is $380,700, which marks the highest bonus the Pirates have paid out in this draft so far.

The Pirates announced today that they have signed their 8th round pick of the 2011 Draft in RHP Jason Creasy. Creasy went 7-1 with a 1.43 ERA with 68 strikeouts in 49 innings as a senior at Clayton High School in North Carolina.

Here’s what WTM at Pirates’ Prospects has to say on Creasy:

Creasy has a projectable frame, but so far only throws in the upper 80s, touching 90 MPH.  He has good mechanics, with loose arm action that projects for added velocity going forward.  He keeps his fastball down in the zone, and also throws a curveball.  He was the #40 prospect out of North Carolina and had a commitment to NC State.

Creasy is the 16th player the Pirates’ have signed out of this year’s draft and the 4th of the Pirates’ top 10 picks.

UPDATE (7/16):
Creasy’s signing bonus was $250,000, which is the highest of any 8th round draft pick up to this point.

Things have been a little quiet on the draft front recently, but Pirates Prospects is reporting the Pirates have singed their 15th player from the 2011 Draft in 27th round pick Ryan Hornback.

Hornback is a catcher from San Jacinto Junior College in Texas who was commited to Ole Miss. He was ranked as the #65 prospect in Texas heading into the draft by Baseball America.

Due to the Pirates’ catching depth in the low levels, I wouldn’t be surprised to see him start off in the Gulf Coast League.

Pirates Prospects is reporting the Pirates have agreed to terms with their 23rd round pick, RHP Jordan Cooper. Cooper was drafted by the Pirates in 2009 in the 17th round by the Pirates, but didn’t sign. So the team obviously likes him. He went 3-2 with a 4.61 ERA in 66 1/3 innings the year as a draft-eligible sophomore for Kentucky, who plays in the baseball powerhouse SEC.

Here’s what Baseball America had to say about Cooper:

Scouts don’t know what to make of righthander Jordan Cooper. He opened the season in Kentucky’s weekend rotation and pitched his way out of it after having little success with an 88-90 mph fastball and a mediocre breaking ball. Then the 6-foot-3, 215-pounder looked like a top-five-rounds pick in midweek starts against Louisville and Western Kentucky, dealing with an 89-94 mph sinker, a harder slider and a solid changeup. He didn’t show the same stuff and lacked the same command when he returned to his Sunday slot. He has extra leverage as a 21-year-old sophomore, and the team that selects him likely will monitor his progress during the summer.

I would assume that Cooper’s bonus would be considered high for a 23rd round pick due to him having good leverage as a sophomore who can be drafted next season as well. Cooper should be joining the State College rotation and is the 14th player the Pirates have signed from this year’s draft.