Wade Davis has signed a deal with the Rockies he's one of the 9 who rejected a qualifying offer so here is what would be happening due to his signing.
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As a team that benefited from revenue sharing and did not exceed the luxury tax in 2017 the Rockies will forfeit their third-highest selection in next year’s draft. For the Rockies who have a selection in Competitive Balance Round A their third-highest pick will be their second-round selection in 2018.
The Cubs meanwhile will secure a compensatory pick after Competitive Balance Round B. (While Davis’ contract is north of $50MM the Cubs are a revenue sharing payor thus disqualifying them for compensation after the first round of the draft.)
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