From what I've read on the UNI message board from the play by play guy is that he'll sign and the Reds will let him play his senior year in basketball and graduate.
http://www.americanchronicle.com/articles/yb/145978227
O'Rear, 21, informed the Reds that he wanted to return to Northern Iowa for his senior basketball season.
"I asked them if it was all right if I come back and play college basketball and they said it was totally fine," he said.
O'Rear also got permission from UNI basketball coach Ben Jacobson to begin his pro baseball career this summer with the Reds.
"He supports me 100 percent and that's how Coach Jake is," O'Rear said. "He looks after his players like we were his kids."