Major League Baseball

Red Sox to introduce high-priced prospect Yoan Moncada on Friday

Published Mar. 12, 2015 11:37 a.m. ET

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The Boston Red Sox will officially introduce Cuban infielder Yoan Moncada at a press conference Friday in Fort Myers, Florida, FOX Sports MLB Insider Jon Paul Morosi reported Thursday. 

Moncada, 19, agreed to a $31.5 million deal in late February, easily a record for an international amateur free agent under 23 years old. It was finalized Thursday, and the Red Sox officially announced Moncada has signed a minor league contract and will be assigned to minor league camp.

Because Boston must pay an additional $31.5 million for exceeding the international bonus spending limit, the total cost of the contract will be $63 million.

It remains to be seen where Moncada eventually will play in the infield, as FOX Sports 1 Insider Ken Rosenthal reports Moncada is expected to spend at least one season in the minor leagues.

Moncada receives $5 million of the signing bonus within 30 days of the contract's approval by Major League Baseball and $2.5 million by Dec. 31, according to contract information obtained by The Associated Press.

In 2016, he gets $2.5 million by Jan. 31, $3 million by April 1 and $2.5 million by Oct. 31, and then in both 2017 and 2018 he receives $5 million by Jan. 31 and $3 million by Oct. 31.

Because the Red Sox already were over their international signing bonus pool total of $1,881,700 for the period from last July 2 through this June 15, they must pay a 100 percent tax to MLB on the $31.5 million. That money is due by July 30, and according to baseball's collective bargaining agreement the commissioner's office "may use the tax proceeds to further the international development of baseball."

In addition, for the signing periods starting on July 2 this summer and in 2016, the Red Sox will be ineligible to give a signing bonus of more than $300,000 to any international players subject to the pool.

The previous high signing bonus for an international amateur free agent under 23 was $8.26 million for pitcher Yoan Lopez, who finalized an agreement with Arizona on Jan. 16.

The switch-hitting Moncada played two seasons for the top league in Cuba and spent last year at second base.

The Associated Press contributed to this report.

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