A Club generally retains the rights to sign a selected player until 11:59 PM (EDT) August 1, or until the player enters, or returns to, a four-year college on a full-time basis. A player who is eligible to be selected and is passed over by every Club becomes a free agent and may sign with any Club until the player enters, or returns to, a four-year college full-time or enters, or returns to, a junior college.