Everybody Wants to Rule V the World

The major league Rule V draft kicks off a week today and Baseball America has a good preview of past and present. The latest collective CBA gave teams an added year to protect their young players before they have to be added to the 40-man roster.

Most Rule V drafts don't amount to much- the Yankees grabbed Josh Phelps last year. But the Reds picked up Josh Hamilton and the Royals have their closer in Joakim Soria. And yes, Johan Santana was once a Rule V pick.

Rules for Rule V - At the major league level, teams can select players off the list of available Triple-A players. The cost is $50,000 each and the player selected must remain on the big league roster all season. If a team gives the heave ho, as the Yankees did with Phelps, the original team can have the player back for 25 grand.

The minor league draft is split into 2 phases, one for Triple-A players and another for Double-A. In each case, teams draft one level below the minor league level. The Triple-A phase players cost 12K, while the Double-A phase goes for $4,000 each. It's a good chance to take a player that might pan out for you, especially since you don't have to worry about keeping a player at a particular level.

Baseball America also takes a look at some of the players that could be selected this year and have an impact.