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pc + $3Mbut seriously, is a commissioner around to make a decision on if he is eligible or not?
He's eligible. As long as the player is 16 years old, he can be signed. If he's past the J2 eligibility then he's just a regular free agent. There's no requirement that he be in an MLB organization. We play big boy fantasy baseball.
For bidding purposes, would he be a J2 signing or just a regular free agent signing?