Major League Baseball has shortened its 2020 draft to just five rounds, according to sources.

The league's owners were looking to save costs in the wake of the coronavirus pandemic.

The plan will allow teams to sign an unlimited number of undrafted players for $20,000. The draft is expected to begin June 10.

An agreement between MLB and the MLB Players Association in March allowed the league to reduce the draft from its typical 40 rounds to as few as five. The agreement allows teams to delay signing bonuses, with a maximum of $100,000 to be paid within 30 days of a player signing, 50% of the remainder due July 1, 2021, and the leftover due July 1, 2022.