Pettitte came back to the Yankees for only $2.5 million in 2012 after ending his one-year retirement. However, he showed quickly that he hadn't lost a step in his year off, boasting a 2.87 ERA and 1.14 WHIP in 12 starts for New York. He was limited for most of the year with a broken fibula, but what he did show in his limited time was enough for the Yankees to make signing the longtime Yankee an offseason priority. Pettitte hasn't yet decided whether this upcoming season will be his last, but did say that his next retirement will not feature a comeback.
Pettitte has played 14 of his 17 years with the Yankees, winning five World Series and 208 games with the club. In 2010, he had a 3.28 ERA before deciding to retire, before deciding he still wanted to play a year later.
GM Brian Cashman has made it clear the Yankees don't want to commit to long-term deals with an ultimatum by Hal Steinbrenner to reduce payroll by 2014 still in play, but they've also shown no problem with spending big in the short-term: the move comes just a week after the team agreed to a one-year, $15 million deal with Hiroki Kuroda.