Miranda told ESPNdeportes.com that he inked a $2 million deal, which includes a signing bonus of $500,000. The deal reportedly is a Major League contract, which would require the Yankees to place him on their 40-man roster.
"We have nothing to announce," said general manager Brian Cashman.
Miranda is listed as being 23 years old, though there is some speculation that he may actually be 25.
"In Cuba I grew up dreaming of playing in the big leagues," Miranda told ESPNdeportes.com. "But I never thought it would be possible, much less with the Yankees."
Mark Feinsand is a reporter for MLB.com. This story was not subject to the approval of Major League Baseball or its clubs.