The AL and NL Elias rankings have been released.

Why is this important? Well, in the rankings, at the end of certain player listings, you'll see an A or a B. This denotes the type of free agent they are - Type A or Type B. If a Type A free agent leaves his old team for a new one, the new team must give their first round pick to the old team. The old team also receives a supplemental first round pick. So, for example, when A-Rod signs with the Red Sox (just kidding), we'll get their first round pick as well as a supplemental pick after the first round. It's important to note that the first 15 picks of the draft are off limits. So, if he's signed by one of those teams, we would get their second round pick and the supplemental pick, instead. Of course, the Type A team pick can also change if a team signs more than one Type A free agent, in which case the highest pick would be given as compensation for the highest ranked player and so on.

Meanwhile, with Type B free agents, the only compensation given is the supplemental pick. Our Type A guys are Posada, Mo, Pettitte and, of course, A-Rod. Luis Vizcaino is a Type B. To receive compensation, the player must be signed by December 1 or be offered arbitration by November 30. As Peter Abraham reported, the Yankees plan to offer A-Rod arbitration, so that we'll be compensated when he leaves.

Via Mike.