Yasel Puig Update: Cuban Prospect Officially Free Agent

Cuban prospect Yasel Puig was officially declared a free agent by Major League Baseball by establishing temporary residency in Mexico, according to Jesse Sanchez of MLB.com. Sanchez also reports that Puig, who can begin negotiating with MLB clubs, could have an agreement as early as Friday, although a deal can't officially be signed until Puig is unblocked by the U.S. Treasury Department's Office of Foreign Assets Control.

Time is of the essence for Puig, who will be rushing to put his name on a dotted line before July 2. Prior to that date, Puig can sign for an unlimited amount of money, and it's being reported that he's seeking a deal in the $30 million range like recent fellow Cuban free agents Yeonis Cespedes and Jorge Soler. But after July 2, the new CBA guidelines kick in, and Puig could not receive more than $2.9 million without his new team incurring a penalty.

For updates, stay tuned to SB Nation Chicago, and for more from around Major League Baseball, head over to Baseball Nation. For the latest on trade rumors and transactions, visit MLB Daily Dish.

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