HOUSTON -- The Rangers have signed Mike Olt, the third baseman from the University of Connecticut who was the 49th overall pick in the 2010 First-Year Player Draft. Olt, who agreed to a signing bonus of $717,300, has been assigned to Class A Spokane. Olt was the second of two picks given to the Rangers in the compensation phase of the first round. Olt, 21, batted .318 (84-264) with 23 home runs and 76 RBIs in 64 games for the Huskies in 2010. He currently stands as the school's all-time home run leader with 44 over three seasons and is also considered an outstanding defender.
The Rangers also agreed to terms with their seventh-round pick, lefty pitcher Jimmy Reyes from Elon University, and their 23rd-round pick, righty hurler Andres Perez-Lobo from Christopher Columbus (Fla.) High School. Reyes will go to Spokane, with Perez-Lobo assigned to the Arizona League Rangers.