The arbitration deadline (I assume you mean the one today) is when free agents offered arbitration by their teams have to make a decision whether to accept or not. If they decline arbitration they will become free agents. If they accept, then they agree to a one-year contract at an undetermined salary and the arbitration process takes place to determine the salary.
It's important for Type A and Type B (see below) free agents because teams can get draft picks back if they decline arbitration and sign with another team. Because of this, teams often offer arbitration to players that they know are going to decline, like Jayson Werth, Carl Crawford, and Cliff Lee. Teams don't get picks back if they don't offer arbitration.
Type A free agents are the top 20% at their position according to the Elias Sports Bureau and teams that lose them get the team that signed them's first round pick(if they hae the 16-30, second round pick otherwise) and they get a sandwich pick (a pick between the first and second round).
Type B free agents are top 20%-40% (I think) and teams only get a sandwich pick.
Edited, Nov 30th 2010 12:00pm by Alzade
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