The Yankees have agreed on a one-year, $12-million contract with starting pitcher Andy Pettitte, according to the New York Post's Ken Davidoff.
After spending 2011 in retirement, Pettitte signed a one-year, $2.5-million minor league deal to pitch for New York last season. He joined the team in May and made 12 regular-season starts, posting a 5-4 record and a 2.87 ERA.
An ankle fracture sidelined him for two months, but he returned to start three games in September and two in the postseason. Pettitte boasts a career record of 245-142 over his 17 years with the Yankees, and is the all-time MLB leader in postseason wins (19). The lefty joins a rotation headed by southpaw CC Sabathia and right-hander Hiroki Kuroda, a free agent who also re-signed for one year this month.