Pettitte will likely be introduced on a Thursday conference call, as plans for a Yankee Stadium press conference were canceled because Pettitte had to return to Houston on Wednesday for a family commitment.
The Yankees signed Pettitte to a one-year deal worth $16 million, with a player option for 2008 worth another $16 million.
Igawa is expected to arrive in New York and take his physical on Wednesday, though the Yankees may not officially announce a deal with the pitcher until after the holidays. A press conference could take place at the stadium, though that might not be until after New Year's Day.
Igawa's five-year, $20 million contract has not yet been finalized, and the Associated Press reports that the Yankees and agent Arn Tellem are still negotiating the year-to-year breakdown of Igawa's salary and what performance bonuses will be included.
Igawa will join Pettitte, Chien-Ming Wang, Mike Mussina, Randy Johnson and Carl Pavano as starters on the Yankees, with Igawa and Pavano likely to battle for the fifth starter's spot. Johnson is recovering from back surgery, so both pitchers could open the year in the rotation if the Big Unit isn't ready by Opening Day.
The Yankees won Igawa's negotiating rights on Nov. 28, outbidding several other teams, including the Mets. New York and Arn Tellem, who represents Igawa, have until midnight on Dec. 28 to come to an agreement, or Igawa would have been returned to Hanshin.
Mark Feinsand is a reporter for MLB.com. This story was not subject to the approval of Major League Baseball or its clubs.