Boston Red Sox Land Cuban Prospect Yoan Moncada

The Boston Red Sox have landed top Cuban prospect, Yoan Moncada, several media outlets reported.

Moncada, 19, agreed to a $31.5 million signing bonus. Since the bonus exceeds the Red Sox's international bonus pool money, the organization will have to pay a 100 percent tax, increasing their cost to sign the infielder to $63 million.

Jesse Sanchez with MLB.com explained that since Moncada is under 23-years-old and did not play in a Cuban professional league for at least five years, Moncada would be subjected to the MLB's international signing rules.

Sanchez wrote:

"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 have until July 15 to pay the overage tax and up to three years to pay Moncada's bonus."

Although the price is a hefty one, for Moncada, many believe it is worth it.

"He's worth going way over your international spending pool, in my opinion," a scouting director told MLB.com back in November. "This game is about talent, and Moncada is the kind of talent worth the investment."

The 6-foot-2, 205-pound switch hitter has been compared to one of the league's greatest active player, Robinson Cano. Moncada played two seasons for Cienfuegos in Cuba's Serie Nacional. He batted .277 and scored 58 runs in 101 games.

Moncada's representatives reportedly talked with the New York Yankees, the San Diego Padres and the Los Angeles Dodgers, according to CBSSports' Baseball Insider Jon Heyman. The Yankees, who were considered to be one of the top contenders, reportedly did not want to spend a lot of money on a player who is not ready for the majors just yet.

Moncada is expected to start in Single or Double-A. If he performs as expected, he could debut in the majors in a year or two.