NEW YORK -- Andy Pettitte and the New York Yankees are nearing agreement on a one-year contract in the range of $10 million to $12 million, a person familiar with the negotiations said Tuesday.
The person spoke on condition of anonymity because talks are ongoing.
Pettitte, who turns 41 in June, retired after the 2010 season and then decided to come back this year and signed a contract guaranteeing $2.5 million.
He went 5-4 with a 2.87 ERA in 12 starts, missing nearly three months with a broken left leg after he was hit by a liner drive off the bat of Cleveland's Casey Kotchman broke his left fibula on June 27.
New York also is negotiating on a deal with closer Mariano Rivera, who turns 43 on Thursday. The career saves leader was limited to nine games this year after tearing the anterior cruciate ligament in his right knee while tracking down a fly ball during batting practice in Kansas City on May 3.