Yankees sign Pettitte out of retirement

By Larry Fine

(Reuters) - Andy Pettitte is coming out of retirement to rejoin the New York Yankees as the former starting pitcher signed a one-year minor-league contract, the Major League Baseball (MLB) team said on Friday.

Pettitte, 39, last pitched in the majors in 2010 with the Yankees, going 11-3 with a 3.28 earned run average that landed him his third All-Star selection.

"I'm happy for him if that's what he wants to do," Yankees captain Derek Jeter told WFAN radio. "Andy's going to compete, that's what he enjoys doing. He expects a lot out of himself. His expectation levels are as high as anyone.

"There is going to be a lot of people excited about having him back."

Financial terms of Pettitte's deal were not disclosed but New York media reports said the broad-shouldered left-hander, who won five World Series rings with the Yankees, signed for $2.5 million.

Presuming the left-hander, who was invited to the Yankees' spring training camp in Florida, can regain his old form the addition of Pettitte could shake-up of the team's rotation.

The Yankees have C.C. Sabathia, Hiroki Kuroda and Ivan Nova leading their five-man pitching rotation with newly-acquired Michael Pineda, Phil Hughes and Freddy Garcia competing to join them.

(Reporting by Larry Fine in New York; Editing by Frank Pingue)