Here is Mike Axisa’s paywalled writeup from April:
“2020 draft prospect: Austin Wells.
Wells was considered unsignable out of his Las Vegas high school but the Yankees took a shot anyway, selecting him in the 35th round in 2018. Obviously he didn't sign. Wells, a lefty hitting catcher at the University of Arizona, starred against elite competition in the wood bat Cape Cod League last summer (.308/.389/.526) and authored a .375/.527/.589 batting line in 15 games before the shutdown this spring. MLB.com ranks him as the 23rd best prospect in the draft class. Baseball America (subs. req'd) ranks him 21st. The Yankees hold the 28th overall pick.
There is no question that Wells' bat plays. The left-handed hitter has power to all fields, with good timing and a simple setup at the plate. He has strength and bat speed and controls the bat head well to make loud contact. He does strike out a bit, but he also draws a lot of walks. There are more concerns about where he might play defensively. He's adequate behind the plate, though he'll split time there with Matt Dyer at Arizona in the spring, and while his arm stroke and release are fine, his throws are inconsistent. He is a decent enough athlete to play first or figure things out in left field.
A team taking Wells with its first pick might want to send him out as a catcher until he proves he can't play the position. His bat should play regardless of his eventual defensive position and he could end up following a Kyle Schwarber type path to the big leagues.
It is notable the Yankees drafted Wells once before but be careful not to read too much into it. Like every team, they fail to sign several draft picks each year. Sometimes they draft the player again in the future, most of the time they don't. It's more notable the Yankees have shown a willingness to select bat first catchers in the early rounds in recent years (Pete O'Brien in 2012, Josh Breaux in 2018). Wells is cut from a similar cloth and the Yankees hired Tanner Swanson over the winter not only to work with Gary Sanchez, but also to oversee catcher development in the farm system. They may see Wells as a good candidate for Swanson's catching program. Turn him into a passable defender and the bat could make him an All-Star. Money could be an obstacle though. Wells is a draft-eligible sophomore, giving him more leverage than the typical college draftee because he could go back to school for his junior year and reenter the draft next summer. Unless MLB shortens the draft less than expected, the Yankees will have only three picks and a $3.7M bonus pool this summer. The Yankees would have to be absolutely sure they can sign Wells before pulling the trigger -- pre-draft agreements happen all the time even though they are technically illegal -- otherwise they risk losing him and the $2.5M in bonus pool money tied to their first round pick. I am skeptical the Yankees will play games with their bonus pool this draft only because they have so little of it (and only three picks), but maybe they really like Wells, and really believe in the bat and his ability to improve defensively. At the end of the first round, catchers who can bang are fine selections. The upside is considerable. “