How do rookie contracts work in the MLB?

Chillin

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This is probably because I follow baseball very little compared to football and basketball, but for example, why is Bryce Harper being signed for $10 million such a huge deal? I mean, in the NFL, Sam Bradford was just signed for like $50 million+ in guaranteed money and the MLB is known to sign the biggest contracts in major sports since it has no salary caps, so why are top rookie picks getting so little?
 
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