Baltimore Orioles Sign Kevin Gausman

June 9, 2012; Baton Rouge, LA, USA; LSU Tigers pitcher Kevin Gausman (12) pitches against the Stony Brook Seawolves in the fourth inning of game two of the Baton Rouge super regional at Alex Box Stadium. Stony Brook defeated LSU 3-1. Mandatory Credit: Crystal Logiudice-US PRESSWIRE

UPDATE: The Orioles and Gausman have come to an agreement for $4.32 million, tweets ESPN's Keith Law.

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3:07pm: The Baltimore Orioles have made serious headway in their discussions with first-round pick Kevin Gausman and and will likely reach an agreement before tonight's deadline, reports Jon Paul Morosi of FOX Sports.

The fourth overall pick in last month's draft, Gausman is expected to reach an agreement with the Orioles some time tonight for "around" the allotted slot value of $4.2 million. It is unclear at the moment whether "around" means under or over the recommended amount.

Earlier this week it was rumored that Gausman was planning on returning to LSU for his senior season with the hopes of taking home a national championship, but it's likely now that the rumor was just Gausman posturing for more leverage in negotiations.

A right-hander out of Louisiana State University, Gausman was 12-2 with a 2.77 ERA in 17 starts for the Tigers this season. The LSU junior struck out 135 batters in just 123 2/3 innings while walking just 28.

Gausman finalizing his deal would leave just Mark Appel and Lucas Giolito as the only first-rounders not signed.

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Will Gausman sign for more or less than $4.2 million?

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