Baseball Prospectus (subscription required) reports that the Pirates will sign Nicaraguan third baseman Chesler Cuthbert (also known as "Cheslor," depending on the source) for $750,000.
In a BP ranking of Latin amateurs' expected bonuses, Cuthbert placed 11th. (MIguel Sano was first.) BP says that Cuthbert plays good defense and has good power and bat speed, but his hitting is still a question mark because his swing is a little "stiff." ESPN's Jorge Arangure Jr. suggests (again, insider only) that Cuthbert's bonus could be in seven figures.
The signing season for Latin amateurs doesn't start until July 2, so obviously the Pirates won't be able to announce any potential signings until then.
Thanks to Chad Bahamas for the link.
UPDATE: Arangure finds the news in BP's report unlikely for a number of reasons. Thanks to Gtrain for the link.