How long do they own you?

I think if you get drafted out of high school or college, I think the first contract is for three years. You can't become a free agent until after three years, unless you get cut or released.

The scholarship plan ~ the money is sent to the commissioner's office in New York and you have two years from the time you are released, to begin to activate that money. Extensions can be granted. The money does not earn interest, so you would want to add some for inflation into the amount.

This is information received both from the East Coast Pro Showcase and in home visits with scouts.

Hope this helps!!

Moms,
The contact your son signs after he is drafted commits him for a period of 6 years. During that time, he can be released by the team that drafted him at any time and for no reason. If he is released before 6 years, he becomes a free agent and can sign with any other club on terms to be negotiated.
During the 6 year initial contract, the drafting team can only protect their rights for 4 years. At the end of 4 years, if your son is not on the MLB team's 40 man roster, he can be drafted in accordance with the Rule V draft. If you son was drafted after his 4th year in the rule V draft, his contract is sold to the drafting/purchasing team and he remains bound for the remaining term of two years, unless traded or released prior to that point.
Hope this summary helps.

Infield dad didn't they change that to 5 yr. player draft? (if you signed before your 21)

njbb, thanks for picking that up as it is directly relevent to the initial post.
The new CBA extended the time on the Rule V draft from 3 to 4 years for those over 21, and from 4 to 5 years for those younger than that.
Geez, so many rules and so little time.

VeryProudMom:
Do you have two years from any release point or two years from the first time you are released?

In other words, if you get released and then picked up again, has the clock started?

Estone 28,

It was my impression that the 2 years started when you were released and walked away from baseball. So, if you were released and then signed somewhere else, I would think the time had not yet started. Again, this was my impression from the conversation.

Maybe some of the others with more experience will chime in with their responses.