Long rumored, today is when NY's plan to spend wildly on Latin American prospects has begun. RAB says:
"They have been assigned a $2.2M signing pool but are reportedly willing to spend upwards of $30M between bonuses and penalties. They’re said to have several verbal agreements already in place, many of which are individually worth more than the team’s signing pool.
The penalties for the spending spree will be pretty harsh. Not only will the Yankees have to pay a 100% tax on just about every dollar they spend, they will also not be allowed to sign any player to a bonus worth more than $300k during the next two international signing periods (2015-16 and 16-17). With rumors of an international draft continuing to circulate, this may be New York’s last chance to spend freely on amateurs."
They have already spent around $10M of that including penalties:
"They have been assigned a $2.2M signing pool but are reportedly willing to spend upwards of $30M between bonuses and penalties. They’re said to have several verbal agreements already in place, many of which are individually worth more than the team’s signing pool.
The penalties for the spending spree will be pretty harsh. Not only will the Yankees have to pay a 100% tax on just about every dollar they spend, they will also not be allowed to sign any player to a bonus worth more than $300k during the next two international signing periods (2015-16 and 16-17). With rumors of an international draft continuing to circulate, this may be New York’s last chance to spend freely on amateurs."
They have already spent around $10M of that including penalties:
- 1:40pm: The Yankees have signed 16-year-old Dominican SS Nelson Gomez for $2.25M, reports Sanchez. He was ranked the second and sixth best prospect available by MLB.com and Baseball America, respectively. “Gomez, who trains with Victor Baez, has at least plus raw power … He has good bat speed and packs plenty of strength into a heavy, big-boned frame, putting on an impressive display in batting practice with power to all fields,” says Badler.
- 12:50pm: As expected, the Yankees have signed 16-year-old Dominican SS Dermis Garcia, according to Dionisio Soldevila. He received a $3.2M bonus after being connected to the team for weeks now. MLB.com and Baseball America ranked Garcia as the best and ninth best prospect available, respectively, with Badler saying he is “strong, generates huge loft and puts on a fireworks display in batting practice, with 70 raw power that rates as the best in the class”
- 11:25am: Jesse Sanchez reports the Yankees have signed 16-year-old Venezuelan SS Diego Castillo for $750k. He ranked 16th and 24th on MLB.com’s and Baseball America’s top 30 lists, respectively. “Castillo is one of the most intelligent players in Latin America. He slows the game down, playing calmly and under control in all phases of the game,” wrote Badler.
- 10:23am: The Yankees have signed 16-year-old Dominican outfielder Frederick Cuevas for $300k, reports Ben Badler. He does not rank among Baseball America’s or MLB.com’s top 30 prospects. “Cuevas is a lefty who has performed well at the plate in games with gap power. He doesn’t have a tool that jumps out and he fits best in left field,” wrote Badler.