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09/24/2008 4:05 PM ET
Agreement reached on Alvarez, Hosmer
Pirates', Royals' top Draft picks ready to begin pro careers
Major League Baseball
Pedro Alvarez (above) was the 2nd overall Draft pick while Eric Hosmer was No. 3 this year. (Rob Carr/AP)

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Major League Baseball announced today that the dispute regarding the status of Pedro Alvarez of the Pittsburgh Pirates and Eric Hosmer of the Kansas City Royals has been resolved by agreement with the Major League Baseball Players Association and that both players will be free to begin baseball activities immediately with their clubs.

The agreement with the MLBPA also clarifies how the August 15th deadline for signing selections in the First-Year Player Draft will be administered in future years. The agreement makes clear that deadline extensions can be made only by agreement between the Commissioner's Office and the MLBPA.

"From the beginning our primary concern was allowing Mr. Alvarez and Mr. Hosmer to begin their professional careers as quickly as possible and this settlement accomplishes that goal," said MLB Executive Vice President of Labor Relations Rob Manfred. "We fully support and welcome the changes to the manner in which the August 15th deadline will be administered. We believe that the changes will result in a cleaner and more consistent application of the deadline which is in the best interests of both Clubs and players."

This story was not subject to the approval of the National Association of Professional Baseball Leagues or its clubs.