Though no formal announcement was scheduled by the club, the San Jose Mercury News reported that Posey will receive a bonus of approximately $7.5 million.
According to other published reports, Posey recently checked into the Giants' training facility in Scottsdale, Ariz., to undergo a physical, another sign an agreement could be forthcoming.
Posey, a Florida State University product, won this year's Golden Spikes Award as the nation's top amateur player and was the Draft's fifth pick overall.Meanwhile, the Giants officially announced the signing of UCLA shortstop Brandon Crawford, their fourth-round selection. He hit .302 with 53 runs scored, seven home runs and 51 RBIs in 60 games this year and finished with a .319 average in three seasons for the Bruins. Industry sources said that Crawford received a $375,000 signing bonus. San Francisco has now signed 26 of its first 31 draftees.
Chris Haft is a reporter for MLB.com. This story was not subject to the approval of Major League Baseball or its clubs.