Pettitte makes it official, signs $16M deal with Yankees

NEW YORK -- Andy Pettitte and the New York Yankees agreed Wednesday to a $16 million, one-year contract.

The move was a formality after Pettitte decided to pitch for the Yankees rather than retire, then accepted the team's offer of salary arbitration. The 35-year-old left-hander had turned down a $16 million player option last month, saying he needed more time to make his decision.

Pettitte was 15-9 with a 4.05 ERA this year in his return to the Yankees following three seasons with his hometown Houston Astros. He went 11-3 after the All-Star break.

New York still has incomplete deals with third baseman Alex Rodriguez, closer Mariano Rivera and reliever LaTroy Hawkins.