Giants outfielder Melky Cabrera has been suspended 50 games after testing positive for a performance-enhancing drug, reports ESPN's Jorge Arangure (on Twitter). MLB has confirmed both the suspension and that substance was testosterone. The suspension takes effect immediately and will cost him the rest of the season.

"My positive test was the result of my use of a substance I should not have used," said Cabrera through a statement, courtesy of Hank Schulman of The San Francisco Chronicle (on Sulia). "I accept my suspension under the Joint Drug Program and will try to move on with my life. I am deeply sorry for my mistake and I apologize to my teammates, to the San Francisco Giants organization and to the fans for letting them down."

Cabrera, 28, was in the middle of a breakout season and is scheduled to hit free agency this coming winter. Both Melky and the team recently agreed to put contract extension talks on hold. Cabrera hit .346/.390/.516 with 11 homers in 501 plate appearances during his first season in San Francisco, earning him his first All-Star Game nomination.

Ryan Braun was suspended for a failed PED test this past offseason but successfully appealed and did not miss any games. Cabrera will not do the same based on his statement. He was set to hit the open market as one of the most coveted free agents available due to his age and production, but the suspension will surely impact his next contract, perhaps in a real big way.

Andrew Baggarly of CSNBayArea.com confirmed that Cabrera will be eligible to play in the postseason once his suspension is over (Twitter link). He would have to miss his team's first four games, however. The Giants are currently tied atop the NL West with the Dodgers at 64-53.