11:30pm: The Reds also inked Venezuelan outfielder Yorman Rodriguez, according to a press release.
11:09pm: MLB.com’s T.R. Sullivan says Alonso signed for $4.5MM. John Manuel adds details: "$2MM bonus, $4.55MM guarantee" on a Major League deal.
10:40pm: Baseball America’s Jim Callis says the Reds have signed Alonso, most likely to a big league deal. Terms are not yet known.
6:09pm: According to John Fay of the Cincinnati Enquirer, Reds GM Walt Jocketty has made his final offer to first-round pick Yonder Alonso. Jocketty says Alonso backed down slightly for the first time today, so there is hope.