Andy Pettitte said Wednesday that he won't make a decision about whether to pitch in 2014 until next winter. Pettitte was very effective when he came out of retirement last year, posting a 2.87 ERA, 1.14 WHIP and 69/21 K/BB ratio over 75 1/3 innings, so he wants to see how 2012 goes before making a decision about his future. He'll turn 41 years old in June.

FOX Sports' Ken Rosenthal reports that Andy Pettitte will not pitch for Team USA in the upcoming World Baseball Classic. There has been some conflicting information about Pettitte's intentions in recent weeks, but he has apparently made a decision. It's ultimately not a surprising one, as he is 40 years old and will be gearing up for what will likely be his final season in the big leagues.

Manager Joe Torre is considering adding Andy Pettitte to Team USA's World Baseball Classic roster. Anthony McCarron of the New York Daily News reported last week that Pettitte had declined an invitation to play in the WBC, but apparently he's still on the fence. Torre notes that the Yankees have "voiced their concern" over the 40-year-old pitching for Team USA. "That's the most important thing, to make everybody comfortable with what's going on," Torre said. "I certainly don't want to put any player in a stressful situation. Because that's not what we're doing here."

Anthony McCarron of the New York Daily News reports Andy Pettitte has declined an invitation to play for Team USA in the World Baseball Classic.

Ken Davidoff of the New York Post reports that the Yankees and Andy Pettitte have agreed to a one-year, $12 million contract. Pettitte had already committed to returning for 2013 and wasn't expected to pitch elsewhere, so it was just a matter of working out the terms. The 40-year-old southpaw earned $2.5 million this past season while posting a quality 2.87 ERA, 1.14 WHIP and 69/21 K/BB ratio in 75 1/3 innings. There's still a chance the Yankees could add some insurance before the winter is done, but their rotation is pretty much set.

Mark Feinsand of the New York Daily News hears that Andy Pettitte has committed to playing next season, but no deal with the Yankees has been reached. Buster Olney of ESPN.com reported earlier Tuesday that the two sides were close to coming together on a one-year deal in the $10-11 million range. While it might not be as close as initially expected, it seems like a formality that something eventually gets done.

Buster Olney of ESPN.com was told by sources that Andy Pettitte is close to finishing off a new deal with the Yankees. This also means that he's close to formally announcing he's coming back for another season, though most assumed he was anyway. Multiple reports suggest that the deal is expected to be in the $10-11 million range, which is a nice raise from the $2.5 million he made last season.

According to the New York Daily News, Andy Pettitte has already started his offseason training program. Pettitte wants to see how his body will react before making his return with the Yankees official, but all signs continue to point to him coming back for one more season. Beat writer Mark Feinsand expects a decision to be made before Winter Meetings in December.

According to CBS Sports' Jon Heyman, left-hander Andy Pettitte is expected to decide whether he wants to continue his playing career by the end of next week. All signs point to the veteran southpaw returning to the Yankees for another year, but it's not official quite yet. Pettitte, 40, posted a 2.87 ERA, 1.14 WHIP and 69/21 K/BB ratio in 75 1/3 innings (12 starts) this past season for New York. He made a $2.5 million salary.

The Yankees have faith that they'll be able to reach agreements with Andy Pettitte, Mariano Rivera and Hiroki Kuroda, according to CBS Sports' Jon Heyman. Pettitte hasn't officially told the team that he's returning, but the popular belief around the league is that he will. With Kuroda, they Yankees will need to up the ante after he declined their one-year qualifying offer of $13.3 million. Rivera is a lock now that he has decided against retirement.