New York Yankees manager Joe Torre speaks during a news conference at Yankee Stadium on Tuesday. Despite speculation, team owner George Steinbrenner asked Torre to return with Yankees next season. Associated Press Photo.

NEW YORK - Now Joe Torre has to lead the New York Yankees back to the World Series, as if he didn't know that already.

George Steinbrenner ended three days of speculation that followed his team's second straight first-round exit from the AL playoffs, telling Torre on Tuesday that he will be back for a 12th season.

Ever since Detroit eliminated the Yankees on Saturday, reports of Torre's imminent dismissal dominated New York media. When Steinbrenner left Monday to return to Tampa, Fla., he said he still hadn't made a decision.

Would he revert to his old ways, when he changed managers 20 times from 1973-95? Or would he stick with the revered Torre, who led the team to four World Series titles in his first five years but none in the six seasons since?

“Let's just say that he echoed support and commitment to having me go on in this job,” Torre said. “I felt comfortable with the conversation.”

Steinbrenner recounted the talk in a statement issued through spokesman Howard Rubenstein, saying he told Torre: “You're back for the year. I expect a great deal from you and the entire team. I have high expectations, and I want to see enthusiasm, a fighting spirit and a team that works together. Responsibility is yours, Joe, and all of the Yankees.

“Yes, I am deeply disappointed about our loss this year,” Steinbrenner added. “We have to do better, and I deeply want a championship. It's about time.”

Since Saturday's loss, Steinbrenner spent his time listening to the advice of his top executives. On Monday, Torre spoke with him about 15-to-20 minutes, and told him: “If you feel in your heart a change has to be made, go ahead and do it.” After that phone call, Torre said he felt more confident he would keep his job.

All the while, camera crews camped outside Torre's home in suburban Westchester.

“I thought I had the cure for cancer or something,” Torre said.

The most likely successor for the 66-year-old Torre was Lou Piniella, who served two terms as Yankees manager in the 1980s.

For two days, speculation about Torre's job ran nonstop. First he was out; then he was in.

“I didn't read the paper,” Torre said. “But I know my sisters did and my brother did and wife did.”

Torre has led the Yankees to 11 consecutive playoff berths and nine AL East titles in a row, finishing in a tie with the Mets for best regular-season record this year at 97-65. But despite having baseball's largest payroll by a wide margin, the Yankees haven't reached the World Series since 2003.

“When we go to spring training every year, we talk about getting to the World Series. We don't talk about having a good year, let's have a good record and all that stuff. It's getting to the World Series. So you know going in what the requirements are,” Torre said. “He requires a lot. He expects a lot and we know that. You can't pick and choose the parts that you like about working for George Steinbrenner. You have to understand the whole package, and the whole package has been pretty damn good as far as I'm concerned for 11 years.”

Yankees general manager Brian Cashman said team executives gave Steinbrenner their opinions on Torre. Steinbrenner informed them of his decision just before telling the manager his job was safe.

“I believe that he is the right man for this job right now at this point in time,” Cashman said.

Some of Torre's players lent their support.

“Always in my mind, Joe is manager of the New York Yankees,” Hideki Matsui said.

Derek Jeter's agent, Casey Close, said the Yankees captain was “thrilled by the news.”

Piniella also backed Torre.

“I'm sorry he had to go through that rigamarole,” he said. “There was no need for that.”

“Everybody knows the comfort level Derek has with Joe,” Close said.

Torre, hired after the 1995 season, nearly quit after last season, when his relationship with Steinbrenner deteriorated. But the two got along well this year and there was no evidence of interference by the owner.

Torre has one year remaining on his contract and is owed $7 million, the highest salary for a baseball manager.

“When you work here, you have to understand that every year may be your last year,” Torre said.