Yankees, Andy Pettitte nearing contract agreement

Jim McIsaac

The veteran left-hander is expected to formally announce his return soon.

After weeks of waiting on a decision from Andy Pettitte about whether he would return next season, the New York Yankees finally have their answer. And it is good news, unless you didn't want him back.

The veteran left-hander is close to not only formally announcing his return, but also close to completing a new deal that will put him in pinstripes for 2013, per Buster Olney of ESPN.

Pettitte proved that he has more than enough left in the tank in 2012, posting a 2.87 ERA and 3.29 strikeout-to-walk ratio in 12 regular-season starts. The 40-year-old originally planned to come out of retirement for just the one season, but when a broken leg in June sidelined him for several months, Pettitte began rethinking his options.

Pettitte earned $2.5 million this past season but is likely in line for a healthy raise. It is believed his new deal will be around $10 million to $11 million, per the New York Post.

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