CHICAGO -- The Chicago Cubs have signed 16-year-old Dominican Republic outfielder Eloy Jimenez, the club confirmed on Thursday evening.

The 6-foot-4 Jimenez is regarded as one of the top international players and will receive a bonus of $2.8 million.

The Cubs had been rumored to be the favorite to land Jimenez for about a month.

According to Baseball America, Jimenez is the No. 1 international prospect on the market and is projected as a corner outfielder.