The Red Sox have apparently won the bidding to yet another highly-touted Cuban baseball prospect, as the team has reportedly agreed to a deal that will bring 19-year old infielder Yoan Moncada to Boston for around $31.5 million. The deal was first reported by MLB.com’s Jesse Sanchez.
Moncada was reportedly being courted heavily by nearly a dozen teams – including the Dodgers, Cubs, Padres, and Yankees – before ultimately choosing Boston. The $31.5 million deal is a record-setting bonus given to an international amateur, but the deal is actually going to cost the Red Sox double that ($63 million) because of bonus taxes. From MLB.com:
Because he is not yet 23 years old and did not play in a Cuban professional league for at least five seasons, Moncada is subject to Major League Baseball’s international signing guidelines, under which each team is allotted $700,000 and an additional bonus pool based on the team’s record the previous year to be used during the international signing period. The current period started July 2 and ends on June 15.
According to those guidelines, clubs are penalized during the upcoming 2015-16 signing period if they exceed their bonus pools by certain amounts. The Red Sox had already exceeded their bonus pool before this signing and been given the maximum penalty. It’s a severe measure that includes a 100-percent tax on their pool overage and prohibits them from signing any pool-eligible player for more than $300,000 during the next two signing periods. Including the penalty for exceeding their bonus pool, Moncada’s deal will cost the Red Sox $63 million — the bonus plus the penalty.
The Red Sox obviously felt that paying the penalty was worth it for Moncada because of his potential as well as the impact that he’ll have on the club’s future international free agent interests. He’s the second high-profile Cuban signing by the Sox over the past year, as they also landed outfielder Rusney Castillo this past August.
Moncada is expected to spend much (if not all) of the upcoming season in the minor leagues but has tremendous upside and could have a significant impact on the Red Sox roster for years to come.
