Andy Pettitte waited to sign with the New York Yankees and ended up re-signing with the team for much less than they initially offered him. Instead of accepting a $10 million contract, Pettitte waited and then recently signed a deal for $5.5 million guaranteed.
His agent, Randy Hendricks, put a spin on the deal, saying that with the potential bonuses under consideration, this contract could be worth more than the $10 million previously offered.
Jason Varitek was offered arbitration by the Red Sox, where Varitek would have received at least $10 million. Scott Boras advised Varitek to reject the arbitration offer. Since no other teams have bit the Varitek line, the Red Sox have all the leverage, and are offering a Pettitte-like one-year, $5 million contract with a couple of options.
How long will Manny Ramirez play the waiting game?