UPDATE 5:15 PM: Jon Heyman has a statement from Mark Appel:

“After much thought, prayer & analysis of both opportunities, I came to the conclusion the best decision is to remain at Stanford continuing my studies, finishing my degree & doing all I can to assist the Cardinal baseball team in our goal to win nat. championship”

UPDATE 5:13 PM: Neal Huntington issued a statement via press release:

“We were unable to reach an agreement with first round selection Mark Appel and bring him into our already strong organization.

“Our final offer exceeded the available bonus pool money and was essentially up to the last dollar we could offer prior to falling into the second tier penalty which would have resulted in the loss of a first round draft selection. While, as we have shown in past years, we are willing to be aggressive with our financial offer, we simply did not feel it was in the best interest of the organization to forfeit our first round selection in the 2013 amateur draft.

“Selecting Mark was a calculated risk, as we knew he would be a difficult sign. As an organization, we need to continue to take these types of calculated risks. While we would’ve preferred to add Mark to the group of talented prospects in our system, we wish Mark, and his family, nothing but success in the future.

“We were able to add quality talent and depth from this year’s draft. We look forward to having the ninth selection in the 2013 draft as compensation for the non-signing of Mark, in addition to our conventional pick in the first round and beyond, to continue to further strengthen the talent level within our system.”

5:04 PM: According to Jim Callis of Baseball America, the Pittsburgh Pirates did not sign first round pick Mark Appel. No word yet on other picks who may have signed.

The Pirates will get the 9th overall pick in the 2013 draft. They’ll also get extra bonus money for that pick. In order to draft Appel again, they’ll have to get him to sign a waiver.