UPDATE: Pettitte deal confirmed at $11.75 million

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UPDATE:  The deal is now confirmed at $11.75M

Heyman tweets that the Yankees are about to sign Andy Pettitte to a one-year, $12 million deal (UPDATE: Joel Sherman says it’s actually $11.75m — we’ll see who’s right later).  The deal will be finalized today.  $12 million is about what he got last year once all of the incentives came due. Pettitte had previously rejected a $10 million offer.

Pettitte was 14-8 with a 4.16 ERA in 2009.  He went 4-0 in five postseason starts, with the
final win coming in Game 6 of the World Series. It has been widely reported that if the Yankees didn’t sign him this winter he was going to retire.

As for the deal itself: he was given a low base salary last year — $5.5 million.  In a lot of ways it seems like a $12 million, no-or-low incentives deal is something of a reward for him taking some risks last season.

The Yankees kicked ass in the playoffs. They are continuing to kick ass in the winter meetings.  It’s their world, and we’re all just living in it.

Phillies to sign Drew Smyly

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Jon Heyman reports that the Phillies are going to sign pitcher Drew Smyly. Jim Salisbury of NBC Sports Philly reported last night that the team and Smyly were chatting.

Smyly opted out of his minor league contract with the Brewers yesterday after allowing seven runs on 10 hits and three walks with 18 strikeouts in 12.2 innings with Triple-A San Antonio and not getting a hint of a call-up to the big club. Earlier this year he pinched off an 8.42 ERA with a 52/34 K/BB ratio in 51.1 innings for the Rangers.

He’s basically a free pitcher for Philly, who could use an arm. If he works out, he works out. If not, no loss. Well, I suppose it’s possible there’d be one loss and some walks and hits in like, four innings, or something, but you know what I mean.