1:14pm: The MLB.com site is incorrect: Crain is still with the team and has only been reassigned, Dan Hayes of CSNChicago.com tweets.
Crain, an Article XX(B) free agent, was in line for a $100K retention bonus, which the team had reportedly decided to pay. While it remains unclear precisely what transpired, it obviously would not make sense for the White Sox to have committed to the bonus before dropping him the very next day.
The 33-year-old has been trying to return to action from shoulder surgery. He was one of the game’s very best relievers in 2013, but has yet to return to full game action since his shoulder issues cropped up.