The New York Yankees declined to offer outfielder Bobby Abreu arbitration.

The Yankees have declined to offer arbitration to Bobby Abreu, Andy Pettitte, Jason Giambi, Ivan Rodriguez, Sidney Ponson, Carl Pavano and Chad Moeller.

We imagine the Red Sox and Rays are plenty pleased to see that the Yankees won’t be getting any extra draft picks next year. Having Abreu back for about $16 million wouldn’t have been such a bad thing for the Yankees, and odds are that he would have left and brought back two picks. Now the Yankees are facing the possibility of not having their regular first-round pick or any supplemental first-round picks. They will have the 29th pick in the draft after not signing their first-round pick from 2008.

The Yankees could do way worse than Abreu for $16 million a year. Maybe the Cubs will take a look at him to protect Derrek Lee in the lineup.