ESPN is reporting this afternoon that the Yankees have come to terms with veteran starting pitcher Andy Pettitte on a one year deal worth $11.75 Million.  Pettitte had indicated earlier in the off-season that if he decided to return, it would most likely be for one year and it would be with the Yankees.

This would be Pettitte’s second on-year deal with the World Champion bombers.  Pettitte signed a one-year deal last season with a base salary around $5 Million, but due to his performance, incentives reportedly raised that value to somwhere between $10-12 Million.

This is a good move by the Yankees.  Pettite was 14-8 this past season with a 4.16 ERA.  In the postseason he was a rock on the mound, going 4-0 in 5 starts with a 3.52 ERA.  Over his career, Pettitte is 229-135 with a 3.91 ERA.  He will provide the Yankees with veteran leadership in the clubhouse and a guy who has been fairly consistent over the course of his career.

Pettitte also became the winningest pitcher in the postseason in baseball history after his 4-0 record during the 2009 postseason.