12:26pm: The deal is official, tweets Sherman.
10:13am: Sherman says the Yankees re-signed Pettitte for one year and $11.75MM. The Yanks have certainly accomplished their early-offseason goals. Pettitte was one of the better free agent starters available, though he wasn't really available to other teams.
9:40am: Newsday's Ken Davidoff sees the deal being for about $11.5MM, and believes it will be finished in the next day or two. Joel Sherman of the New York Post tweets that the exact number is $11.75MM.