1:04pm: Guerrero will receive a $3.9MM bonus, Jesse Sanchez of MLB.com tweets.

10:18am: The Blue Jays have reached agreement with Vladimir Guerrero Jr., Ben Badler of Baseball America reports on Twitter. Guerrero, son of the famed big leaguer of the same name, was the first overall international prospect on BA’s pre-July 2 board. He is represented by Beverly Hills Sports Council and Rick Thurman, Rafael Nieves and Nelson Montes.

Toronto had been widely expected to land the highly-touted Guerrero, who bears a striking resemblance to his father. While he doesn’t quite reach Vlad Sr.’s “all-around tools,” in Badler’s estimation, that’s hardly a knock. The younger Guerrero is said to have a very promising bat with contact ability to go with good power potential.

On the other hand, Guerrero is not a strong runner and does not appear to possess his father’s cannon of an arm. Those current limitations, including at least some question of whether he’ll ultimately be a serviceable corner outfielder, led both Kiley McDaniel of Fangraphs and MLB.com’s Jesse Sanchez to rate Guerrero fourth among eligible July 2 prospects.

The Blue Jays entered the day with $2,324,100 to spend without incurring any penalties, per Baseball America, and it appears likely that the club will go well beyond that to get Guerrero. While his bonus has yet to be reported, McDaniel predicted that Guerrero would sign for $3.45MM.

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