produced this narrative video to explain the story:

For its part, the ICIJ created an online, searchable archive of the documents, broken down by country and the individuals involved in the tax avoidance schemes.

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The BBC reports:

Offshore accounts are not illegal, but many people use them to hide cash from the tax authorities. And while tax avoidance is perfectly legal, deliberately hiding money to evade tax is not. The revelations have sparked formal investigations in several countries, with the bank facing criminal investigations in the US, France, Belgium and Argentina. India's finance minister Arun Jaitley has said that all names on the list will be investigated, although he cautioned that some accounts might be legitimate.The White Sox and Phillies are interested in Kevin Youkilis, and the Dodgers are considering him as well. Rosenthal says other clubs are concerned whenever Los Angeles is reportedly in on a player given their financial might.

The Orioles and Nationals are still engaged in a dispute over money received from MASN — both clubs own the network, but Baltimore's stake is nearly 90% — though Nats GM Mike Rizzo said that will not limit the club's ability to spend.

Angels GM Jerry Dipoto is not concerned about finding a pure closer. He intends to add the best bullpen arms he can and let things figure themselves out.

A rival executive told Rosenthal that he expects Dan Haren to sign with the Padres. Haren is a West Coast guy and Padres