Yoan Moncada is a free agent and can finally sign in MLB

Yoan Moncada is finally a free agent following an MLB rule change for Cuban-born players. Essentially, the Treasury’s Office of Foreign Assets Control decided it no longer required all of the paperwork it once did to allow Cuban players to work in the United States, and MLB signed off on those changes by also updating its requirements. Yahoo! Sports’ Jeff Passan was the first to report the news, which has been in the works for a while now.

This is great news for the Red Sox, Yankees, Rays, Angels, and Diamondbacks, who wouldn’t have been able to sign Moncada as of June 15, as that’s the end of this signing period: all of those teams are already over budget for the 2014-15 signing period, so they’re barred from signing any international players to a bonus of over $300,000 until 2017. There still is one major hurdle for them, however, and that’s the tax for going over budget. Whoever signs Moncada will owe a 100 percent tax on his bonus, and it’s likely he signs for $40 million. The Rays are a long shot to write a $40 million check to MLB for the rights to a prospect, but you know the Red Sox, Yankees, or Angels would do so without a second thought.

The Dodgers might have to think it over, however, as they have not already sacrificed the next two years of international signings, and are concerned with building a strong farm system. If they do want Moncada for real, though, they’re as likely as anyone thanks to their deep pockets.

The reason there is a tax on Moncada but not other players has to do with his age (19) and his inexperience in playing professionally. Cuban players 23 and over with two years of experience in Serie Nacional are not subject to international signing requirements, but the rare player in Moncada’s position is. The international budget doesn’t even truly account for this occurrence as a possibility, as the largest available for the 2014-15 period was just over $5 million. Moncada will likely make more than that in each season of whatever deal he signs.

Moncada is likely to sign shortly, as he first came over in late June of 2014 and has been participating in private workouts for a number of teams. Were he eligible for the 2015 draft, the infielder would arguably be taken first overall, and it’s believed he has more upside than the last two major Cuban players to sign in MLB, Rusney Castillo and Yasmany Tomas. It’s expected he’ll begin his professional career in the minors, and while he might not stick at shortstop, he has experience at second base and in the outfield as well.