If finalized, the contract is expected to be for about $8 million, perhaps a little bit more than that, according to people familiar with the talks. One league source said it wasn't done yet but expressed optimism that it would get done.
Iglesias, who's listed at 19 years old, defected from Cuba last year in Canada during the World Junior Championships.
Scouts who have seen Iglesias liken him to Ozzie Smith defensively.
"His hands and arm are deluxe,'' one American League executive said. "The question is how much he'll hit.''