The Royals have signed former No. 1 overall pick Luke Hochevar to a one-year contract worth $1.76 million. He was coming off a $5.3 million, four-year contract that included a $3.5 million signing bonus. Hochevar will make $772,500 if his plays in the minors. He was 7-13 in 25 starts for Kansas City last year with an ERA of 6.55.