The 19-year-old Moncada can now report to Spring Training, and he is expected to participate in Minor League camp.

Top 100 prospects

The Red Sox view Moncada as the type of talent you usually get with the top pick in the First-Year Player Draft. In other words, they are excited to have him, but he will need a progression through various levels of the Minor Leagues before being ready to call Fenway Park home.

The deal is worth $31.5 million and shattered the previous signing bonus record ($8.27 million the D-backs paid for right-hander Yoan Lopez) given to an amateur international player.

Browne on Moncada's position, power-speed combination

MLB.com Red Sox reporter Ian Browne discusses Yoan Moncada's signing with the Red Sox and how the team values the Cuban infielder

"We never had a number one pick," said Red Sox owner John Henry on Feb. 24. "This is our 14th Spring Training [as owners of the Red Sox]. We haven't had a number one pick. Would we pay up to get one? Yes."

Because he is not yet 23 years old and did not play in a Cuban professional league for at least five seasons, Moncada was 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.

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Red Sox to introduce Moncada today