The New York Yankees are a Major League Baseball (MLB) franchise based in The Bronx, New York. They play in the American League East division. Since the institution of Major League Baseball's Rule 4 Draft, the Yankees have selected 46 players in the first round. Officially known as the "First-Year Player Draft", the Rule 4 Draft is Major League Baseball's primary mechanism for assigning amateur baseball players from high schools, colleges, and other amateur baseball clubs to its teams. The draft order is determined based on the previous season's standings, with the team possessing the worst record receiving the first pick. In addition, teams which lost free agents in the previous off-season may be awarded compensatory or supplementary picks.