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Report: Yanks inclined to lower $10M Pettitte offer

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Updated Jan 6, 2009 6:11 PM ET
     
 
Andy Pettitte's chances to return to the Yankees have dropped precipitously. In the aftermath of the Mark Teixeira signing, the organization is now strongly inclined to lower the $10 million offer that the lefty already has been resistant to all offseason, the New York Post has learned. Pettitte recently rejected the Yankees' latest $10 million overture, and now — barring a wave of sentimentality by the Yanks or significant change of strategy by either side — that dollar figure very likely will not be offered again. Multiple sources refused to divulge if the offer had been lowered already. But one executive briefed on the matter described both the chances of making a deal and the $10 million bid as on life support. Another executive said he did not believe that the $10 million offer was there to be taken any longer. At the Teixeira press conference Tuesday, GM Brian Cashman said he would not discuss the current status of the Pettitte negotiations either financially or strategically except to say that matters had grown "more complicated." The main complication, apparently, is that ownership wants to tighten purse strings where possible following the commitment of $423.5 million in free-agent dollars this offseason on CC Sabathia, A.J. Burnett and Teixeira. The Yankees' initial plan this offseason was to add Nick Swisher to play first, and then fixate on the rotation by signing two high-end starters (Sabathia and Burnett) and re-signing Pettitte to serve as a fifth starter. However, after meeting Teixeira in Washington on Dec. 4, Cashman became more intrigued with also obtaining the first baseman. Ownership was initially resistant to making another huge monetary outlay. But once Cashman had convinced the Steinbrenner family of the short- and long-term benefits of signing Teixeira, the corresponding move was the need to cut elsewhere. That starts with a lower offer for Pettitte. The Yanks also might trade either Swisher or Xavier Nady, and it is possible if they could remove those salaries that they could consider restoring their bid to Pettitte at $10 million. Cashman flew to Texas to meet with Pettitte on Dec. 11, at the conclusion of the Winter Meetings, and — according to an official briefed on the conversation — explained to Pettitte that if he did not act on the $10 million offer quickly that the bid could be reduced if the Yanks made other transactions (for example, the signing of Teixeira). Pettitte had said often during last season that if he decided to pitch he only wanted to do so in 2009 for the Yankees, mainly because he wanted to be on the home side in the new Stadium. He also had indicated the finances would not be much of an issue. However, he had balked all offseason at the Yanks' desire to cut his salary from $16 million to $10 million, so a further reduction of the Yankee offer would only push him closer to retirement or to more seriously pursue another team. The Yanks have felt justified to cut the salary because Pettitte struggled last year (14-14, 4.54 ERA), had shoulder issues, will turn 37 next season and — in general — salaries are coming in far lower than anticipated in the current economic climate.
Tagged: Mark Teixeira, Xavier Nady, CC Sabathia, Nick Swisher, A.J. Burnett, Yankees

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