Dec 09, 2008 10:44 AM EST

According to a source, the Yankees will offer Ben Sheets a multi-year deal, most likely for two years in the $30 million range, before the winter meetings conclude on Thursday.

Sheets, a 30-year-old righthander who was one of the heroes of Team USA in the 2000 Olympics, declined arbitration this weekend, so he'll cost the team that signs him a first-round pick in next year's draft.

Via New York Daily News