Pettitte, 40, was 5-4 with a 2.87 ERA last season after coming out of retirement late in spring training and eventually joining New York's rotation in May. The veteran left-hander only made 12 starts because of an ankle injury in late June which kept him sidelined until September.
In two postseason starts, Pettitte was 0-1 with a 3.29 ERA. He holds the record for most career postseason wins with 19.
Pettitte earned $2.5 million last season, but a raise was expected for him after posting an ERA under 3.00 in 75.1 innings. Hiroki Kuroda, who the Yankees resigned earlier this offseason, was also given a raise from $10 million to $15 million after a productive first-season in pinstripes.
The Yankees have now added two proven veterans to a rotation that was full of question marks at the beginning of the offseason. Joining Pettitte and Kuroda will be ace C.C. Sabathia, and most likely Phil Hughes. The fifth and final spot could be won by Ivan Nova or David Phelps in spring training. Michael Pineda will be looking for a spot in the rotation as well once he fully recovers from Tommy John surgery, though he's not expected to be ready for the start of the season.
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