16-year-old Dominican signs with Yankees

As soon as Dominican prospect Leonardo Molina turned 16 on Thursday, the New York Yankees made him a wealthy teenager, signing the outfielder to a contract that includes a $1.4 million bonus.

Molina is ranked fifth on Major League Baseball's list of international prospects. He was not eligible to sign with an MLB team until his 16th birthday.

Considered one of the top players in the Dominican Prospect League, Molina has impressed scouts with his athleticism, running and fielding ability and arm strength.

In signing the 6-foot-2, 170-pounder, the Yankees went over their allotted bonus pool and will pay a 75 percent tax that totals $69,000, according to MLB.com.