Report: Andy Pettitte soon to be off the market, returning to Yankees [Updated]

Update: Deal is done.

Via Peter Abraham:

It’s a $5.5 million deal that could balloon to as much as $12 million based on innings pitched and roster time.

Andy Pettitte looks like he will remain a Yankee, according to Ken Davidoff and Arthur Staple over at Newsday.

The deal is supposedly worth $6 million for a base salary, with incentives that could earn Pettitte up to $12 million.

The market is slimming, Omar Minaya. Hop to it.