Yankees, Andy Pettitte Nearing Deal

7:28pm: Pettitte has committed to playing next year but no deal has been reached yet between the pitcher and the Yankees, a source told Mark Feinsand of the New York Daily News (via Twitter).

7:20am: Andy Pettitte is close to formally announcing he's going to pitch again in 2013, ESPN.com's Buster Olney reports. Furthermore, the free agent left-hander is close to finishing a new contract with the Yankees, according to Olney. The deal is expected to be worth a bit more than $10MM, Jon Heyman of CBSSports.com reports (on Twitter). Joel Sherman of the New York Post suggests the deal will likely be for $10-11MM (Twitter link).

Pettitte, who is now represented by Excel Sports Management, pitched well in 12 regular season starts this past season before making two quality starts in the postseason. He posted a 2.87 ERA with 8.2 K/9, 2.5 BB/9 and a 56.3% ground ball rate in 75 1/3 regular season innings in 2012, while earning $2.5MM.

If the Yankees complete a deal with Pettitte, their rotation will look considerably stronger than it did earlier in the month. They have also signed Hiroki Kuroda, who joins C.C. Sabathia, Phil Hughes and Ivan Nova in the team's rotation. David Phelps and even Michael Pineda could also contribute as starters.