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Timeframe is very arbitrary.
The first pick is sometimes signed first due to the fact that the franchise that selected him has a longer timeframe to negotiate and to make sure that they can work with his agent, before they actually draft him.
I don't think it's really that complicated though, there are some very standard procedures that examine the player's actual position, their position in the draft, past draft salaries, current player salaries, etc.
Then you have people like the Postons, who make ridiculous claims about how their client should get #1 pick money because some teams had him listed as a #1 talent. That is the most ludicrous thing I've ever heard. That's worse than when Sean Gilbert (I think) said that he was asking for more money because God told him to.
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