It's like he never left.
Andy Pettitte is coming back to the Bronx on a one year contract worth $11.75M with no incentives. This comes as no surprise both in terms of the dollar value and the fact that the deal got done. It was only a matter of time but it's nice to have it finalized.
Pettitte finished 2009 strong - as in starting the clinching game of the World Series strong - unlike in 2008 when his shoulder bothered him down the stretch. He actually made one fewer start this year than last, but had a 3.31 ERA in the second half and pitched well into the postseason, overcoming his struggles at the New Yankee Stadium. As such, the Yankees were obliged to guarantee him the money up front instead of load the contract with incentives. Seems fair to me.
With the two moves the Yankees have completed in the past 24 hours, they have made great strides towards solidifying the team for the 2010 season if you assume Joba and Hughes are filling in the 4th and 5th starter roles and Granderson is aimed for LF. While the bullpen seems a little barren and they could certainly use a DH and possibly a platoon partner for Granderson, the holes are closing and the team is starting to take shape. I'm sure Cash & Co. aren't done yet, but they are a lot further along than they were this time yesterday.