updated 6:19 p.m. ET Dec. 1, 2008

NEW YORK - The New York Yankees declined salary arbitration with all eight of their former players who became free agents, a group that includes pitcher Andy Pettitte and right fielder Bobby Abreu.

Both made $16 million last season, so the move was not a surprise. By declining arbitration, the Yankees forfeited draft-pick compensation if they sign with other teams.

Yankees general manager Brian Cashman didn’t rule out re-signing the pair.

“The determination that we made today was to make sure we control what amount we’d be spending,” Cashman said Monday in a recorded audio statement. “We did not want to put ourselves in a position of having that determined by a third party without knowing what that figure would be.”

Also declined arbitration were first baseman Jason Giambi; pitchers Sidney Ponson, Carl Pavano and Mike Mussina; and catchers Ivan Rodriguez and Chad Moeller. Mussina has announced his retirement.

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