Andy Pettitte apparently is unwilling to take a pay cut from the New York Yankees.

The 36-year-old Pettitte has rejected the Yankees' one-year, $10 million contract offer, the New York Times reported Tuesday.

The Yankees' offer - which had been on the table for a number of weeks - represents a 37.5 percent decrease from Pettitte's 2008 salary of $16 million.

However, while Pettitte remains popular among Yankees' fans, he likely would be no more than a fourth or fifth starter if he were to return for the 2009 season.

The Yankees spent a combined $243.5 million to sign starters CC Sabathia and A.J. Burnett, and another $180 million to land first baseman Mark Teixeira.

Chien-Ming Wang is returning from a foot injury that caused him to miss the final 3 1/2 months of last season, and the Yankees plan to start next year with Joba Chamberlain back in the rotation.

Pettitte led the Yankees in innings last season with 204 despite pitching with shoulder pain, but he struggled in the second half of the campaign and finished 14-14 with a 4.54 ERA. The lefthander was 2-7 in his final 11 starts.

Pettitte told the New York Times on December 3 that he wanted to come back to the Yankees, but that return now seems to be in limbo.

While the Yankees spent $423 million to sign Sabathia, Burnett and Teixeira, they apparently have been unwilling to increase their offer to Pettitte.