DENVER -- The Rockies on Monday offered arbitration to free-agent left-handed reliever Brian Fuentes, ensuring themselves of two Draft picks should he sign with another club or a chance to retain him if he doesn't receive an offer he likes on the open market.

The Rockies determined early in the process that they were not in position to outbid large-market teams such as the Mets, who are known to be interested. But the offer of arbitration, which Fuentes has until Sunday to accept, protects the Rockies and gives them a slim chance to retain their career saves leader.

Monday at 9:59 p.m. MT is the deadline for teams to offer arbitration to their free agents. Fuentes, 30, who owns the Rockies' record for career saves with 115, was the club's only Type A free agent and thus the only one for whom the club could be compensated should he sign elsewhere.

Should Fuentes reject the offer of arbitration, the Rockies are entitled to receive a choice between the first and second rounds of the 2009 First-Year Player Draft, plus a pick from the club that signs him.

If the team that signs Fuentes has a Draft position among the first 15 picks, the Rockies would receive that team's second-round pick. If that team has a position among the second 15 picks, the Rockies would receive the signing team's first-round choice. Many reports this winter have linked Fuentes with the Mets. Should he sign there, the Rockies would receive the top choice of the Mets, who were contenders in the National League East.

Fuentes also could accept the offer, which would mean he would be treated like any other arbitration-eligible player. He and the club would submit a proposal for a 2009 salary, and the clubs could try to negotiate a deal, with the stipulation that if the sides can't agree then a three-judge panel of arbitrators would pick either the player's or the team's offer.