2023 Rule 5 Draft Results: Pick by Pick

Major League Phase

The Rule 5 Draft took place during the Winter Meetings in Nashville, giving Major League clubs the opportunity to add low-risk, high-ceiling talent to their organizations. The event was held in person for the first time in three years. The draft order is determined by the reverse order of last season's standings, and a team must have room on its 40-man roster to make a pick.

The New York Yankees prospect, Mitch Spence, was selected by the Oakland Athletics with the first pick in the Major League phase. The Athletics paid $100,000 to select him, but if he doesn't stay on the active Major League roster for the full season, he must be offered back to the Yankees for $50,000.

Here are some other notable picks from the Major League phase of the Rule 5 Draft:

Minor League Phase

In addition to the Major League phase, there is also a Minor League phase of the Rule 5 Draft. The costs for selecting players in the Minor League phase vary based on the level of the player. Triple-A picks cost between $12,000 and $24,000, while Double-A picks have been eliminated. Players selected in the Minor League phase aren't subject to any roster restrictions with their new organizations.

The Rule 5 Draft concluded with several rounds of picks in the Minor League phase. Here are some of the notable picks from the first few rounds:

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Jonathan Mayo is a reporter for MLBPipeline.com. You can follow him on Facebook and Twitter (@JonathanMayo), and listen to him on the weekly MLB Pipeline Podcast.