Buster Olney and The Houston Chronicle are both reporting that Andy Pettitte has signed with the New York Yankees. The deal is for 16 million, 1 year, with a player option for 2008.
Great move by the Yanks in my opinion. I mentioned it yesterday, but Andy was possibly the best option for the Yankees due to not wanting a 4 or 5 year contract. One year means Hughes has an open spot for 2008, and if Pettitte does go with the option, the Yankees will have more depth and can always move Pavano or someone else for Hughes (unless Igawa doesn't sign, in which case Randy Johnson's departure would leave an open spot).
Is 16 million a lot? Maybe, especially with the luxury tax, but overpaying for one year of Pettitte is fine by me. The Yankees have been hurt in the past not by paying too much cash, but by giving too many years. Very good deal.
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