The Yankees’ embarrassing track record in finding talent in the annual amateur draft has been well documented recently. It’s hard to find an organization with more failures among first-round picks (Derek Jeter, their first round pick from 14 years ago, is the only first-rounder currently playing for the team).To their credit, under the helm of scouting director Damon Oppenheimer, the more recent drafts carry far more promise, though we will not be able to effectively evaluate them for another three or four years.

Because of the organization’s financial situation, the Yankees are in a unique position to compensate for their shortcomings, and they’ve done so on the international market. Under the direction of Lin Garrett, who holds the title of Vice President of International Scouting, the Yankees have used their monetary might to consistently sign some of the top talent from Latin America and Asia.

In stark contrast to the Yankees’ lack of success in drafting talent on these shores, their foreign investments have paid off handsomely since they started their heavy commitments to the international markets in the late 1980s. While the club is often accused of buying talent, many of 2006’s top producers have come from within, and come from their international scouting department.

Garrett’s job is to identify 16-year-old (the age of signing eligibility) players in far-off places like the Domincan Republic, Venezuela, and Taiwan who have to potential to play major league baseball. It’s a remarkably difficult task, yet one that the department does exceedingly well.

Despite this success, the Yankees were caught off guard last summer when they lost out on the top hitter (Dominican outfielder Fernando Martinez) and top pitcher (Venezuelan Deolis Guerra). Making matters worse was the fact that both players signed with the rival Mets (perhaps it was karma for the Amazins’ signing of the wrong Matsui).The Yanks made up for it by signing Venezuelan outfielder Jose Tabata, who has astounded scouts with his ability to star in the minor leagues as a 17-year-old and has already established himself as the top position-player prospect in the system.

When the international signing period began on July 2, the Yankees struck hard.While the 2006 draft class was considered very poor, the class of eligible-tosign 16-year-olds in Latin America was considered to be among the best in years. When Garrett informed the front office of the talent level,the Yankees decided to invest heavily.

They signed five of the top Dominicans, including five-tool outfielder Carlos Urena, who cost $350,000.They also nabbed the top shortstop in Venezuela, speedy Jose Pirela. But the real prize was Jesus Montero.

A Venezuelan catcher, Montero has become the stuff of scouting legend, despite being just 16. Scouts have been on him for years, with tales of 400+ foot home runs being hit with wood bats as early as 2004, drawing throngs of scouts to South America to see him.

Montero came to Florida in March and worked out with big leaguers in the spring training camps of at least five teams, including the Mets and Red Sox, who were expected to be the Yankees’ two biggest competitors in bidding for Montero’s services.In batting practice, it was hard to separate Montero from established major league hitters.

The Yankees won the bidding war two weeks ago by giving Montero a shade over $2 million, the most ever handed out to Venezuelan amateur. That’s the kind of money it takes to sign a top 10 draft pick, but most think he will be worth it. The only concern about Montero is defense; already 6-foot-2 and 225 pounds, Montero is not done growing and will almost certainly become too large to catch, and he lacks the athleticism to end up anywhere but first base. With his kind of power, the Yankees don’t think that will matter.

Now the waiting game begins. Montero likely won’t make his stateside debut until next summer, when he’ll likely toil in the relative obscurity of the Gulf Coast League, where attendance isn’t even counted. If everything goes as planned,a realistic expectation for Montero arriving in Yankee Stadium is 2010 or 2011, so Jason Giambi doesn’t have anything to worry about … yet.

Despite their struggles in the amateur draft, the Yankees have excelled at plucking young talent from the international market.

The Yankees’ Foreign Legion

MELKY CABRERA
Outfielder, 2001, Dominican Republic

Cabrera has done yeoman’s work in filling in for the injured Hideki Matsui and Gary Sheffield in the outfield, batting .321 with runners in scoring position while making a number of memorable catches in the field. His lack of power will always prevent him from being a star, but he’ll be a valuable fourthoutfielder/occasional starter for a long time after the big guns return.

ROBINSON CANO
Second Base, 2001, Dominican Republic

Cano was enjoying a breakout campaign this year, batting .325 and getting elected to his first All-Star game before going down with a hamstring injury in late June. His minor league track record indicated a good player in the making, but not this good. Now, his youth and scouting reports indicate that this kind of performance is possibly more the norm than any kind of fluke. If he continues to develop his eye at the plate, Cano could consistently push his onbase average over .400.

MARIANO RIVERA
Relief Pitcher, 1990, Panama

Arguably the best closer in baseball history, Rivera has certainly been around for a long time, but the Yankees deserve credit for finding him in Panama. Rivera, who signed as a 20-year-old amateur and made $109,000 as a rookie in 1995, is one of only five pitchers from the Central American nation to pitch in more than 100 games.

CHIEN-MING WANG
Pitcher, 2000, Taiwan

Wang was one of the Yankees’ first big investments in Asian amateurs, and it looked like a bust early on when he missed all of 2001 after reconstructive shoulder surgery. While such a procedure can mark the end for most prospects, Wang bounced back and transformed himself from a power pitcher into a control/ground ball specialist, with a career record of 17–9 and a 4.01 ERA.

BERNIE WILLIAMS
Outfielder, 1985, Puerto Rico

While the rules have changed, and Puerto Rican players are now part of the draft, Williams is one of the best Latin American signings in team history who overcame an injury-plagued minor league career to become a five-time allstar and four-time gold glove winner.

Mr. Goldstein is a writer for Baseball Prospectus.Fore more state-of-the-art analysis, visit www.baseballprospectus.com.