The Pittsburgh Pirates have agreed to terms with 16-year-old pitching prospect, Luis Heredia of Mexico on a $2.6 million bonus, according to Dejan Kovacevic of the Pittsburgh Post-Gazette.

Heredia’s Mexican club, Veracruz, will keep 75 percent of the bonus, and the remainder will go to the player. Heredia has passed his physical, and a formal signing ceremony will take place next week.

Heredia, a 6-foot-6, 185 pound is considered one of the best pitching prospects his country has produced in years. His fastball is in the 92-93 mph range, and he throws four other pitches. All but the slider currently are seen as above-average.