MLB Rule 5 Draft

Each MLB club is required to file its MLB Reserve List and the reserve list for each of its minor league affiliates with the MLB Commissioner on November 20th each year (or November 19th if November 20th falls on a Saturday, or November 18th if November 20th falls on a Sunday), and the MLB Rule 5 Draft is held subsequent to the reserve lists being filed.

The MLB Rule 5 Draft is presently the last order of business at the MLB WINTER MEETINGS in December, and it is a mechanism that allows MLB clubs to select (draft) players off minor league reserve lists.

There is a "Major League Phase" where an MLB club can select Rule 5 Draft eligible players off the reserve lists of minor league clubs for $50,000, a "AAA Phase" where a club's AAA minor league affiliate can select Rule 5 Draft eligible players off the reserve lists of minor league clubs of a lower classification for $12,000, and finally a "AA Phase" where a club's AA minor league affiliate can select Rule 5 Draft eligible players off the reserve lists of Class "A" clubs for $4,000.

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