NEW YORK -- The Orioles came through at the 12th hour Wednesday, when they came to an agreement with first-round pick Matt Wieters at nearly the last moment possible. Andy MacPhail, Baltimore's president of baseball operations, said the deal was completed about nine minutes before the 11:59 p.m. ET deadline to get draftees under contract.

MacPhail said Wieters got a Minor League deal with a signing bonus of $6 million. The switch-hitting catcher from Georgia Tech will have to undergo a physical examination before it's determined where he'll play.

"Our offer was very generous," MacPhail said. "I think you have to determine what's fair and appropriate to what's going on in the market. ... Sometimes, you walk away."

If the Orioles hadn't been able to sign the fifth overall pick, they would have received a compensatory pick high up in next year's Draft. Wieters, meanwhile, likely would have gone back to school at Georgia Tech to finish out his eligibility. Last season, he batted .358 with 10 homers and 59 RBIs.

Scouting director Joe Jordan said he got the news one minute before the deadline that the long-awaited deal was completed. Jordan said he thought Wieters was the best college position player available and was hoping against hope that the Orioles would secure his services rather than receive an extra selection next year.

"He's an Oriole," said Jordan, around 10 minutes after the hour. "The drama was tough, but it's one of those things. Our owner stepped up and financially took care of it."

Earlier in the day, sources said that Wieters was seeking a contract worth $11 million and that chances of reaching a deal were truly slim. Baltimore offered over $5 million and apparently stuck to its plan.

"I don't think we're real optimistic," Jordan said around 7 p.m. "We're so far apart on everything, and I'm the biggest optimist in the room."

"Some of those deals that seem like big deals are spread out over a long period," MacPhail added later in the night. "They aren't the same in terms of present value."

Baltimore was also able to reach terms with fifth-round pick Jake Arrieta, a right-handed pitcher from Texas Christian University. Jordan announced the signing around 10 p.m., but terms were undisclosed. Arrieta, who hasn't been throwing recently, will likely report to Class A Aberdeen and resume throwing activities.

"He's a player I've always liked. It's good to get him done," he said. "In my mind, we have a first-round talent."

Wieters is advised by super-agent Scott Boras, who has successfully negotiated blockbuster draft deals for players like Mark Teixeira. Boras also advised J.D. Drew -- the No. 2 overall pick in 1997 -- who decided to sit out a year and try his luck again. Drew was drafted fifth overall in 1998 and signed for a package worth $8.5 million.

If he hadn't signed Wieters, Jordan said that the new collective bargaining agreement -- which would have guaranteed him a much higher pick next year than the last agreement would have -- wouldn't have begun to compensate enough for losing Wieters.

"I haven't tried to reconcile this in my mind based on that," Jordan said early in the day. "I've got the player that I want. I'm hopeful that something will happen to try to get us together. I'm not finding any solace in that at all. Maybe next week, that will help."