Cubs Extend Qualifying Offers To Jake Arrieta, Wade Davis

(CBS) As expected, the Cubs extended qualifying offers to right-hander Jake Arrieta and closer Wade Davis ahead of the 4 p.m. deadline Monday.

The qualifying offer is a one-year deal for $17.4 million for the 2018 season. Arrieta, Davis and others across baseball who were extended offers now have 10 days to accept or decline.

The Cubs' extension of the qualifying offer means they'll receive draft pick compensation should Arrieta and/or Davis choose to sign elsewhere. That compensation would likely be a pick after the second round.

As one of the most sought-after starter pitchers on the open market, Arrieta is expected to decline the qualifying offer. Arrieta, who turns 32 in March, went 14-10 with a 3.53 ERA and 1.22 WHIP in 2017.

There's an outside chance Davis could accept the qualifying offer, as the $17.4 million payday would make him the game's highest-paid closer in 2018. He had 32 saves and a 2.30 ERA this past season.