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Per Baseball America's Ben Badler, the Red Sox have signed 16-year-old Venezuelan left-handed pitcher Dedgar Jimenez for $175,000.
As is always the case with international free agents of his age, Jimenez is all about projection. His fastball doesn't so much as hit 90 now, but with a big frame and plenty of time to fill out, it'll only be going up from here.
While a dollar doesn't go as far these days on the IFA market, Sox fans know another Venezuelan lefty who signed under very similar circumstances: Felix Doubront was inked to a $150,000 deal at age 16 back in 2004.
Doubront, however, is one of a few exceptions to the rule for IFA signings, who tend to come in volume and provide value only rarely aside from the big-money signings (mostly out of Japan for the Red Sox). That being said, when a team hits, they could end up with a Hanley Ramirez--or more appropriate for the time, a Xander Bogaerts--all for a six-figure sum that, while large to most of us, is a pittance compared to their annual payroll.
More talent is always better than less.