The New York Yankees offered Yoan Moncada a $25 million contract on Sunday, but that wasn't enough to land the Cuban infielder.

Moncada opted to sign a deal with the Boston Red Sox that included a $31.5 million bonus.

Brian Cashman was intrigued by the 19-year-old's talent and projection, but the price moved higher than ownership was willing to authorize.

"We scouted him extensively and obviously engaged with his agents," Cashman said. "We made our final and best [offer] yesterday and we were told that it wasn't going to be good enough. Obviously we were waiting to hear where he was going to be going. It sounds like he's going to Boston."