re: Chad Jones - drafted 50th round by Brewers

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actually no. they have until august 15th to sign him.

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Uh,.....actually ....yes

Rule 4 Draft
The Rule 4 draft is also known as the amateur draft. The system was established in 1965 as a way to organize the selection of baseball talent from a vast national pool. It takes place every June and lasts 50 rounds, with a sandwich round comprised of compensatory picks for losing free agents between the first and second rounds. The order of picks per round is determined by the won-loss record of the major league club. In 2005, it became irrespective of league for the first time (this does not, of course, include the possibility of lost draft picks for free agent compensation, which can bump teams out of certain rounds). Unlike the NBA and NFL drafts, the MLB draft moves at a fairly fast pace, with picks being made within minutes or even seconds of each other.

Players are eligible for the Rule 4 draft if they meet the following criteria:

They have never signed a major or minor league contract before
They are a resident of the U.S., Canada, or any U.S. territory
They have graduated from high school and have not attended college or junior college
They have attended college but are either juniors, seniors, or age 21
Teams who draft players retain their rights until a week before the draft of the following year. If the player has not signed by then and still retains eligibility, they may reenter the draft, but cannot be selected by the same club without their consent. Any draft-eligible player who is not drafted becomes a free agent and is allowed to sign with the team of their choosing. No players at all may be signed in the week prior to the draft.