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Sources: Yanks ink top prospect 'The Martian'

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Passan: Dominguez has potential to match the hype (1:29)

Jeff Passan is impressed by the potential shown by highly regarded Yankees prospect Jasson Dominguez. (1:29)

Sixteen-year-old center fielder Jasson Dominguez, perhaps the most highly regarded prospect from Latin America in a decade, signed with the New York Yankees on Tuesday morning in a deal that includes a $5.1 million bonus, sources familiar with the agreement told ESPN.

The 5-foot-11, 195-pound Dominguez is a powerful switch-hitter with top-end speed and a well-regarded throwing arm -- a classic five-tool player. His bonus dwarfed the Yankees' previous record of $3.2 million for a player on July 2, when international free agents are eligible to sign.

Dominguez will not be eligible to play games until next season but will immediately join the Yankees' top echelon of prospects. The team's devotion of nearly 95% of its bonus pool to one player -- the Yankees have just shy of $5.4 million to spend in their fixed international free-agent pool -- shows their regard for Dominguez.

The sentiment is shared around the industry. When the Yankees became favorites to sign Dominguez, other teams -- including the Texas Rangers, Tampa Bay Rays and Los Angeles Angels -- lamented the loss of the chance at a player whom evaluators believe will be a star.

Since he arrived at the academy of trainer Ivan Noboa as a 13-year-old, Dominguez has stood out for his developed physique and ability to hit balls far. Scouts took to calling him El Marciano, or The Martian, because they said there was no way he was from this world.

In addition to his $5.1 million bonus, Dominguez will receive $250,000 in potential scholarship money from the Yankees should he choose to further his education.