11:03pm: Rodriguez has accepted arbitration, tweets McCalvy.
9:45pm: Agent Scott Boras says his client is still mulling his decision, tweets MLB.com's Adam McCalvy. Rodriguez has 75 minutes until the deadline.
9:29pm: Francisco Rodriguez will likely accept the Brewers' arbitration offer, according to Jon Heyman of MLB Network (via Twitter). Marcos Grunfield was first to report that the reliever is expected to accept (Twitter link).
Milwaukee's decision to offer arbitration to Rodriguez was somewhat surprising, considering the right-hander earned $13.5MM last year and the team could only offer him a setup role. Given the dwindling number of teams who appear to be interested in spending big bucks on a closer, the market for K-Rod may have been limited.