When it became obvious that lesser FAs with attached compensation were going to be left high and dry, I would have extended offers in the range of 1/14 to Drew, Jimenez, Santana and possibly Morales.
With protected first round picks, the second, third, fourth round picks the team would forfeit in 2014 are less valuable than the supplemental picks these players could potentially net the team for 2015.
There's undeniable risk involved in this strategy, as it is far from certain that events would play out as I've outlined them. However, this tactic allows the team to capitalize on their unique position to improve the major league roster this year, while not crippling the organizations financial future or acquisition of amateur talent.