Update: Vazquez to receive Yanks’ only arb offer

Contrary to initial reports, the Yankees will offer arbitration only to Javier Vazquez ahead of this evening’s midnight deadline. We had originally heard that the Yanks planned to offer it to Kerry Wood as well. The decision not to offer arbitration to Wood belies the Yanks’ concerns that he would have accepted and thus would earn far more than the team wants to pay their set-up man. Vazquez is expected to decline the offer, and the Yanks will recoup a supplemental first-round pick when he signs with another team this winter. The Yankees have declined to offer arbitration to Lance Berkman, Andy Pettitte, Mariano Rivera and Derek Jeter, but under the 2007 CBA, the club can continue to negotiation with any or all of their own free agents.