According to Mark Feinsand of the New York Daily News, Andy Pettitte's deal will also include $2.5 million in award bonuses.
Andy Pettitte's deal with the Yankees is one-year, $12 million as reported. The deal also includes $2.5 million in awards bonuses.— Mark Feinsand (@BloggingBombers) November 28, 2012
So by the end of the season, Pettitte's 2013 deal could be as much as $14.5 million.
Andy Pettitte is officially back in the Bronx for 2013.
Ken Davidoff of the New York Post reported on Wednesday that the New York Yankees and Pettitte have agreed to a one-year deal for $12 million.
The deal is more than the original report of $11 million that Buster Olney of ESPN first reported on Tuesday when he said they were finalizing the deal.
Pettitte was the second starter to ink a one-year deal within a week's time with the Yankees; Hiroki Kuroda signed a one-year deal for $15 million just before Thanksgiving.
The 40-year-old was 5-4 with a 2.87 ERA in 12 starts for the Yankees after he came out of retirement in March and made his debut for the team in May.
Pettitte was pitching brilliantly for the team last season before he took a line drive off the ankle in a game against the Cleveland Indians in late June.
It took him almost three months to get his broken ankle healed and for him to be fully healthy to pitch in September.
Now, Pettitte will have the entire winter and all of spring training to get ready for a 2013 campaign.
The deal that Pettitte signed for 2013 is almost a full $10 million raise from the $2.5 million minor league deal that he accepted in the spring.
With Pettitte officially signed, the Yankees can focus on bringing back Mariano Rivera, Ichiro Suzuki, Russell Martin and Raul Ibanez.
Pettitte's return to the team is great news overall for the Yankees organization and their fans.
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