5:09pm: Marc Carig of The Star Ledger hears from Yankees GM Brian Cashman that nothing has changed regarding Pettitte (Twitter link). He hasn't told the team if he will or will not pitch next season yet.
4:44pm: The Yankees' offer to Andy Pettitte is or will be for $12MM, according to Jon Heyman of SI.com (Twitter links). That won't necessarily be enough to lure the free agent left-hander away from retirement, but some of Heyman's sources expect him to play. "Why would he be working out if he's not playing?" one asked.
Pettitte signed with the Yankees two years ago today, then re-upped with the club in December of 2009. He has never waited later than January 26th to sign a free agent contract, but doesn't appear to be in a hurry this offseason.