Originally the No. 26 overall pick in the 2010 MLB Draft this past June, Parker's signing means he is done playing baseball at Clemson, but his football career will continue at least one more year.
Parker is pictured taking batting practice after he was drafted by Colorado in June. (AP)
Parker decided on July 20 to return to Clemson for at least one more season to play football when reported demands of a $3 million contract were not met.
Whether he plays one more year or multiple years at Clemson remains unclear at the present time.
Still, at that $1.4 million number, Parker will likely have options when it comes to his future in football, meaning he could return to Clemson beyond the 2010 season.
Parker is the only athlete in Division I college sports history to throw 20 touchdown passes on the gridiron and hit 20 home runs on the baseball diamond in the same academic year.
He batted .344 this season with a team best 20 home runs and 64 RBIs this past season for the Clemson baseball team. He was also fifth in the nation in runs scored with 85.
He also helped lead the football program to its first ever Atlantic Division championship last year in his first year as a starter.