Reds sign Cuban pitcher Rasiel Iglesias to $30 million deal

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Making official what was reported as “close” last week, the Reds have signed Cuban right-hander Rasiel Iglesias to a seven-year, $30 million contract.

Iglesias is 24 years old with a fastball that tops out in the mid-90s and posted a 1.68 ERA with 50 strikeouts in 54 innings in Cuba last season. He has starting experience, but the Reds are expected to make him a full-time reliever and he should move quickly through the farm system on the way to likely joining Cincinnati bullpen as a setup man for countryman Aroldis Chapman.

Iglesias’ contract does not count against the international signing bonus limits because he’s older than 23 and has significant experience in Cuba, so the Reds were able to break the bank. And it’s an MLB contract, so he goes directly onto the 40-man roster.