Found November 24, 2011 on Ted's Army: Yardbarker Blogger Network
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They also announced they have declined arbitration on Erik Bedard, Trever Miller, Tim Wakefield, J.D. Drew, Conor Jackson and Jason Varitek, so they will receive no compensation if any of those players leaves via free agency. Drew is expected to retire, and the move to decline arbitration is procedural.

Ortiz and Wheeler have until Dec. 7 to accept or decline the offer. If they accept, they are automatically under contract to Boston for the 2012 season. Papelbon, who's already signed as a free agent with the Phillies, was offered arbitration to ensure the team will receive compensation for him.

CSNNE: Sox offer arbitration to Ortiz and Wheeler

WEEI had a little more insight on possible compensation for Ortiz if he accepts arbitration...

In the case of Ortiz, a Type A free agent, the Sox will receive two draft picks should he sign with another team. The fact that a team would have to part with a draft pick in order to sign Ortiz might also dampen his free agent market, since other teams might be reluctant to give Ortiz a multi-year deal while also parting with a pick that would likely come from either the first or second round. The Sox are now the only team that can offer Ortiz a contract without losing a draft pick for signing him; added to the acknowledged mutual interest in continuing their relationship, the Sox’ offer now increases the likelihood that such an outcome will occur.

Of course, Ortiz (who turned 36 last week) could also accept salary arbitration, in which case he would likely be in line for an increase over the $12.5 million salary he received in 2011, coming off a year in which he hit .309 with a .398 OBP, .554 slugging mark, .953 OPS, 29 homers and 96 RBI in 146 games.

WEEI: What arbitration means for the Red Sox and David Ortiz, Jason Varitek and Dan Wheeler

Thanksgiving has limited my time to analyse this offer to Ortiz and less importantly, Dan Wheeler. It is very likely Ortiz will not go anywhere else and a deal longer than one year is not likely. 

As far as the others who were not offered arbitration, there is still a chance of them returning to the Sox. Looking at the list of free agents, there will be a lot of short-term deals.

HAPPY THANKSGIVING!

Related:

Herald: David Ortiz, Dan Wheeler get arbitration | Projo: Red Sox offer salary arbitration to Ortiz, Wheeler

The rest of the links:

Herald: Giving thanks for this Sox bounty | CSNNE: Merloni analyzes the Sox managerial field | ESPN Boston: Former nemesis gives Valentine thumbs up 

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