Right-hander Chase Burns has broken Paul Skenes' draft bonus record, landing a $9.25 million signing bonus from the Cincinnati Reds, a source told ESPN.

Burns, a Wake Forest product, was the second overall pick in the 2024 MLB draft on Sunday night. He is the only first-round pick to officially sign thus far.

First overall draft pick Travis Bazzana (Cleveland Guardians/Oregon State) and third pick Charlie Condon (Colorado Rockies/Georgia) were universally seen as the top two players in the draft, so either or both of them could best Burns' bonus before the August 1st signing deadline.

MLB.com was first to report Burns' signing Thursday.

Skenes signed for a $9.2 million bonus with the Pittsburgh Pirates after being selected first overall in the 2023 MLB draft. He started Tuesday's MLB All Star Game, the first pitcher to ever do that the year after being drafted.

Burns pitched the first two seasons of his collegiate career at Tennessee, then transferred to Wake Forest for his last year of college baseball. He ranked fifth in ESPN's final draft rankings, projecting to land 44th on a minor league Top 100 prospects list once he turned pro.

Burns was the consensus best pitcher in the draft due to his 96-100 mph fastball and plus-plus slider, both considered among the best pitches in the draft. In 100.0 innings this spring, Burns struck out a school-record 191 batters while walking just 30, sporting a 2.70 ERA.

Another Wake Forest product, righty Rhett Lowder, was the second pitcher drafted in the 2023 MLB draft behind Skenes. Lowder was also selected by the Reds, but he never played with Burns in college.