February 15, 1998 in Sports

Yankees, Pettitte Agree To $3.75 Million Deal

Newsday
 

The New York Yankees avoided arbitration and solidified their good relationship with Andy Pettitte on Saturday by agreeing to a one-year contract worth $3.75 million, a record salary for a pitcher of his experience level.

Yankees general manager Brian Cashman and Pettitte’s agent, Alan Hendricks, came to the settlement roughly 24 hours before the pitcher was scheduled to board a flight to Phoenix for an arbitration hearing.

Pettitte, who went 18-7 with a 2.88 ERA last season, requested a whopping $4.39 million in arbitration, which probably was too ambitious.

The Yankees countered with $3.25 million.

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