The New York Yankees are awaiting word on contract offers to CC Sabathia and to their GM Brian Cashman.

Brian Cashman's three year, $6 million contract expires on Monday and received a new final contract, which has been approved by the Yankees. At last check, according to ESPNNewYork.com's Wally Matthews, Cashman was going over the terms of the contract with his lawyer and word on his status should be known by the end of the day Monday.

As for Yankees' ace starting pitcher CC Sabathia, the Yankees made an offer to him to renegotiate his current deal. Sabathia has the option to opt out of his current contract, which would make him a free agent. According to a Yankees executive who spoke to Matthews, the exec said "We believe it is a very fair offer. But we haven't heard anything back."

However, during Sunday evening, Jon Heyman, SI.com baseball writer reported that he had learned that Sabathia would be opting out of his contract, making him a free agent.

Monday will be an important day for the New York Yankees. There seems to be no indication that Brian Cashman wouldn't accept his new contract. But then it'll be interesting to see what happens to Sabathia. A Yankees beat writer told me that he had expected the Yankees to renegotiate his contract, which seems to have happened. However the writer would not be surprised to see the lefty test the open market, but ultimately find his place back in pinstripes. But stranger things have happened so it's a wait and see game.