Per mlbtraderumors...

It appears that Cuban outfielder Felix Perez will sign with the Reds, tweets Jorge Arangure of ESPN. Major League Baseball suspended him for one year for lying about his age and reinstated him in October of last year.

Perez agreed to a deal with the Yankees in the spring of 2009. The proposed deal would have included a signing bonus in the range of $3MM to $3.5MM. At the time, Perez claimed to be 20-years-old though sources told Arangure that it was believed he could be four or even five years older than that. Upon discovering the age discrepancy, the Bombers broke off talks.

When the Yankees ceased discussions with the outfielder, several scouts told Arangure that this was a blessing in disguise as they didn't believe he was worth the money that was being offered.