I need a little clarification here. According to the BA quote below, Otani, who was born July 5, 1994, was old enough to sign this year, but apparently he couldn't because he had not graduated high school yet. According to the rule, in order to sign during the 2012-13 signing period, he would have had to register with MLB by May 1st of this year. If he didn't register, he would have to wait until July 2, 2013 to be signed. How exactly does rule apply in Otani's case? We don't know if he registered with MLB prior to May 1st, but assuming he didn't, it sounds like he wouldn't be able to sign with a team until July 2, 2013. Does the fact that he graduated high school somehow change how the rule below is applied? Is there some way to find out if he did register with MLB before the deadline? If he is allowed to sign with any team right away, there does seem to be a silver lining or bullet, depending on how you look at it, to these rules further down the page. That would mean that any team willing to give up signing anyone of significance in 2013-14 and is willing to pay the 100% tax on the overage, could spend whatever they wanted to sign Otani. Since the Cubs will have the 2nd highest IFA budget in 2013-14, they would stand to lose more than most teams by being limited to $250,000 per player signed. And since they are only $665,000 under their limit, they would be paying tax on just about every dollar spent on Otani making him more expensive to the Cubs than some other teams. But, it appears, if they wanted to, they could still back up the Brinks truck for this kid. For those IFA experts out there, did I get anything wrong?