The Toronto Blue Jays took away catcher Russell Martin in free agency from the Pittsburgh Pirates after the Pirates made Martin a "qualifying offer" As a result, the Blue Jays lose a first-round draft pick, and the Pirates get a compensating pick in the "sandwich" round between the first and second rounds.
My understanding is that teams are now allowed to use so-called "compensating balance" picks in trades. I was wondering if the Pirates could also "trade back" the draft pick they get from the Blue Jays using one of two mechanisms. (Say the Pirates trade the draft pick and a prospect for a player.)
Mechanism 1 works only if the Pirates have to file for the compensating pick. Then the Pirates could say to the Blue Jays, we'll give you prospect X for player Y, and in addition, we'll let the deadline pass for filing for the compensation pick, meaning that you get to keep yours. (This mechanism doesn't work if the Blues Jays lose, and the Pirates gain, the draft pick "automatically.")
Mechanism 2 is a player to be named later PBNL. That is, the Pirates trade the prospect and a PBNL to the Blue Jays for the player. On draft day, 2015, when the Pirates are about to make their compensating pick, the Blue Jays tell them who to pick, and the Pirates hand him over as the PBNL.
Can a draft pick be "traded" using either or both of those two mechanisms?