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Another consideration - as far as I can remember, the M's have yet to develop a single impact MLB position player in their decade at Safeco while quite a few top pitchers have come along and/or exceeded expectations.
This obviously works the reverse way too - if no big bats want to sign here, a strategy might be to draft ones who do not have a choice.
Regardless, this might balance some of the pitcher v. hitter risk when comparing Cole/Rendon.