Andy Pettitte and the Yankees have reached an agreement on a one-year deal worth $16 million, with a $16 million player option for 2008, sources close to the negotiations told ESPN The Magazine's Buster Olney. "There's no doubt there's a love affair for some of these players that will last for a lifetime, and you've seen that obviously when some of these guys return to our park in another uniform -- or guys that have been playing with us still," Brian Cashman said.'s Jayson Stark reports that Pettitte would have taken $14 million to stay with the Astros, who did not move from their $12 million offer for 2007.