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Who is eligible for the Rule-5 Draft?

Last year, Oscar Hernandez was snatched away from the Rays organization with the first selection in the draft. Hernandez then broke his hambate bone during spring training so he was lost for three months, then made his major league debut in July. He rose to fame after a tremendous season in the Venezuelan Leagues during 2011, but had been mediocre since then so he was left of the Rays' 40-man roster allowing Arizona to swoop in and snag the catcher and through some manipulation were able to keep him on the major league roster for the duration of the season meaning the Diamondbacks now have full control of Hernandez.