Pettitte renews contract with the Yankees

Andy Pettitte has completed a new deal with the New York Yankees. The 37 year old left hander agreed to a one year deal worth $11.75m with Yankees.

Pettite had another good season in the Bronx. He pitched 32 starts going 14-8 with a solid 4.16 ERA through the Yanks' championship series.

After winning the clinching games of all three Yankees postseason series this year, going 4-0 in five postseason starts with a 3.52 ERA, the door was considered open for Pettitte to return. The only question was if the hurler would decide that he wished to pitch for one more season.

The southpaws' new contract represents a slight pay raise from last season and more importantly, it is a guaranteed, incentive-free contract, a major issue after Pettitte admitted that he was not ecstatic with the deal he signed with New York last season.

"Everybody knows I wasn't really happy with the contract I took," Pettitte said after the Yankees won the American League Championship Series against the Angels. "But I wanted to take it to come back here to have a chance to do this."