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2012 MLB Free Agency: Yoenis Cespedes Establishes Dominican Residency

Star Cuban outfielder Yoenis Cespedes, who is now baseball's marquee free agent, has established residency in the Dominican Republic, which will allow him to officially become a free agent and negotiate with MLB teams. Once MLB receives proof of Cespedes' residency, it will notify all teams that they can begin formal negotiations with the outfielder.

With Prince Fielder having signed a massive contract with the Detroit Tigers, it is believed that the frontrunners for Cespedes are the Chicago Cubs and Miami Marlins. With Miami's large Cuban population, Cespedes may be of more value to the Marlins than any team in baseball, but the team has already spent close to $200 million this offseason, and may not be looking to get into another bidding war.

Stay tuned to SB Nation Chicago for more information, and for in-depth analysis on the Chicago Cubs be sure to visit Bleed Cubbie Blue. Visit Baseball Nation for more news and notes around the league.