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2011 MLB Draft Results: Did The Rockies Select An Ineligible Player?

Since the MLB Draft is 50 rounds long, there are bound to be some oversights by teams. Over the years, I've heard teams select a player who had just gone a few choices earlier. That gets corrected right away and another player is taken instead. But what about a team selecting a player in the 50th round who might not be eligible to be drafted?

Case in point, the Rockies selected Heath Holder, their final pick, in the 50th round on Wednesday afternoon. He is a University of Georgia signee and it would be a monumental about-face if the Rockies wound up signing him. But can they even if they wanted to? From the Loganville Tribune:

Holder said he will either play with Team Elite, a travel team in Winder, or with the Athens Pirates, a squad made up mainly of college-bound players. He has already enrolled in summer school at UGA.

He's already in school at Georgia. Now, the wording on this might be important. Is there a difference between summer school at UGA and being enrolled as a student at UGA? If the former is something different, then that would be fine under NCAA rules, I guess. But if summer school at UGA means being an enrolled student at the university then the Rockies have already lost all rights to him. However, when did he sign up for classes? If it was before the draft, then he shouldn't have even been able to be drafted.

This isn't really that big of a deal since it's the 50th round, but it's something that struck me as odd.