TAMPA, Fla. - Brian Cashman said the Yankees put their "best foot forward" trying to sign Cuban phenom Yoan Moncada.

But it wasn't enough.

According to various reports, the 19-year-old infielder agreed to a deal with the Red Sox worth $31.5 million.

Cashman would not say what the Yankees' final offer was, but according to one person familiar with the club's thinking, it was in the range of $25 million.

"We scouted him extensively," Cashman said. "Made our final and best [offer] yesterday and we were told it wasn't going to be good enough."

Because the Yankees blew past their international money pool limit last year, the cost incurred for landing Moncada would have been double whatever they signed him for because of a 100-percent tax imposed by MLB. The Red Sox were in a similar boat, so Moncada cost them $63 million.

Ultimately, that steep price, and the uncertainty surrounding a 19-year-old prospect, is what kept the Yankees from simply offering whatever it took to secure the player.

"It's part of the process," Cashman said when asked if he was disappointed. "Again, we made our final and best [offer] yesterday. I don't think anybody disagrees with the abilities. I would doubt there's any disagreement on the scouting assessments of the player, it just comes down to how much money you're willing to commit. We put our best foot forward yesterday. It was a significant offer but it fell short."