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Hensley is the New York Yankees' newest first-round pick, and after signing the No. 30 overall pick, the Bronx Bombers will look to groom him for the long term as a pitcher, hopefully in the starting rotation.

Let's take a look at the deal Hensley and the Yankees inked, according to Kendall Rogers of Perfect Game USA (via Twitter):

Confirmed: #Yankees ink first-round pick, RHP Ty Hensley, for $1.2 million. Full pick value for Hensley was $1.6M. #OleMiss #NYY #mlbdraft

— Kendall Rogers (@KendallRogersPG) July 13, 2012

With New York's looking to cut payroll to $189 million in order to avoid paying a stiff luxury tax for 2014 and beyond, it will be vital that ...

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