Then why were there a half a dozen teams offering $2 million + for a 16 year old pitcher this year. Oh yea, the 1/2 a dozen teams were all perennial contenders, see list below…

http://www.baseballamerica.com/today/prospects/international-affairs/2008/266316.html

To quote…

Sources have told Baseball America of at least eight players who are expected to collect signing bonuses of at least $1 million. Last year, three players received $1 million or more: Red Sox third baseman Michael Almanzar ($1.5 million), Yankees outfielder Kelvin De Leon ($1.1 million) and Mariners shortstop Jharmidy DeJesus ($1 million).

Some international scouts say some teams are spending their money simply to make a statement. Others see it as teams reevaluating the value of international players, who still are generally cheaper than drafted players. And like all homegrown talent, these players can be cost-controlled for their first three years of service time, followed by three seasons at below-market value in their arbitration years.

“Teams who have not had much success in Latin America can point to teams like the Rockies and Arizona,” said one international scout. “Teams going to the playoffs are the ones signing Latin American guys who go to the major leagues. But they don’t spend that much money—it comes down to scouting and how you allocate the money. You see all these teams now, they have done nothing in Latin America and they’re saying they have to do something about it.”

The teams showing more interest in big-money international signings this year than in the recent past include the Reds, Athletics, Padres, Astros, Cardinals and Indians, with the Padres strongly linked to at least three players who could sign for seven-figure bonuses. In the weeks leading up to July 2, Baseball America will give subscribers more insight on some of the players expected to command the highest bonuses.

Arguably the market's top talent is righthander Michel (not Michael, as first reported) Inoa, a 6-foot-7, 205-pound righthander from Puerto Plata in the Dominican Republic. Inoa's fastball works at 91-94 mph, and scouts see even more projection with his size, athletic bloodlines, fluid arm action and easy mechanics.

Several teams have been linked to Inoa already, including international heavyweights such as the Yankees, Red Sox, Mets and Mariners, while the Athletics have also popped up as a serious contender. Sources have indicated that Inoa will receive a bonus in excess of $2.5 million, and one international scout said agent Adam Katz of Wasserman Media Group, who represents Inoa, is “starting the bidding” at $3.5 million.

While the A’s have never been big spenders on the international front, new money in the international market is shaping up to be one of the themes of this year’s signing period. Oakland made its mark in Latin America in early February, when the club signed 17-year-old outfielder Robin Rosario for $350,000, a franchise record for a bonus spent on an international player.

The Indians could also leave a large footprint on this year’s international signing class, though one formerly hot name who had been linked to them seems to have lost much of his luster. Several international sources have said the Indians had agreed with Dominican shortstop Edward Salcedo for a $2.9 million deal earlier this year, but months later no deal has been announced.