ST. PETERSBURG -- Jeff Hakanson, a Tampa native, grew up attending Tropicana Field as a fan. But on Wednesday, the fifth-round Draft pick entered the stadium ready to sign a contract with his hometown team.

The Rays and Hakanson came to an agreement on Wednesday, according to a source. Hakanson also posted a picture on Instagram saying that the deal was official. The club has yet to announce the signing.

A source told MLB.com that Hakanson and the Rays agreed to slot value, which is for $340,000, showing the confidence that Tampa Bay has in the UCF right-hander.

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Hakanson was a reliever for the Knights, and the Rays see him as one moving forward. Before the coronavirus pandemic canceled most of the college baseball season, Hakanson showed off his swing-and-miss stuff as a closer.

In seven appearances with the Knights this season, Hakanson didn't allow a run and struck out 20 over 8 1/3 innings, including a pair of strong showings against Auburn that helped the Knights sweep the highly-ranked Tigers.

Hakanson can reach 98 mph with his four-seam fastball, and he also has a slider and a changeup that help him generate swings and misses.

“We saw a power fastball with life,” Rays senior director of amateur scouting Rob Metzler said. “And we saw a breaking ball that we think can get real good hitters out.”

The Rays will now continue to focus on signing the rest of their Draft class, including No. 24 overall pick Nick Bitsko, who is expected to ask for more than his slot value, which is around $3 million. Second-rounder Ian Seymour and third-rounder Hunter Barnhart are close to deals, according to sources.

Tampa Bay is optimistic it will come to terms with all six of its Draft picks. But for now, the Rays at least have Hakanson locked up.

“I’m absolutely excited for this opportunity,” Hakanson said last week. “I just can’t wait to get started.”