Red Sox Rival Declines Option, Releases Pitcher to Free Agency
An American League East team has made a significant move by putting a notable pitcher on the free-agent market. The Tampa Bay Rays announced they will not be exercising Peter Fairbanks’ $11 million club option for the 2026 season, according to ESPN’s Jeff Passan. This decision comes as Fairbanks has been a key closer for the team over the past three seasons.
Fairbanks’ Performance with the Rays
Peter Fairbanks has delivered impressive results during his tenure with the Rays. Over seven seasons, he has maintained a 2.98 ERA. In the 2025 season alone, he achieved a career-high 60 1/3 innings pitched, recording a 2.83 ERA and 27 saves.
Tampa Bay Rays’ Financial Strategy
The Rays are known for their economical approach to payroll. In 2025, they boasted the fifth-lowest team payroll in Major League Baseball. Yandy Díaz is projected to be their highest-paid player for the upcoming year, earning $12 million.
- Peter Fairbanks’ current status: Free Agent
- 2025 Performance: 2.83 ERA, 27 saves, and 60 1/3 innings
- Rays’ 2025 Payroll Rank: Fifth Lowest in MLB
- Upcoming Highest-Paid Player: Yandy Díaz at $12 million
Concerns about Fairbanks’ Injuries
Fairbanks, who will turn 32 in December, has had a lengthy injury history, which may have influenced the Rays’ decision. Prior to the 2025 season, he had not pitched more than 45 1/3 innings in any single year.
Free-Agent Market Developments
With Fairbanks now available, he joins a competitive group of free-agent relievers. Notable names in this market include Edwin Diaz, Devin Williams, and Robert Suarez. This influx may provide the Rays with opportunities to find a less expensive replacement for Fairbanks.
The decision to decline Fairbanks’ option mirrors a trend as many relievers, including Aroldis Chapman, Kenley Jansen, Tommy Kahnle, and Phil Maton, have accepted one-year contracts at lower prices. The Rays are expected to pursue similar strategies to bolster their bullpen.
In light of these developments, Fairbanks also emerged as a likely trade candidate had the Rays chosen to exercise his option.
Future Prospects for the Rays’ Bullpen
The Rays have already taken steps to strengthen their bullpen. They acquired Griffin Jax on July 31 and have several young, cost-controlled relief pitchers, including Edwin Uceta, Mason Montgomery, and Hunter Bigge, who can contribute moving forward.
As the off-season progresses, the Rays will look to navigate these changes strategically, balancing performance with their financial constraints.
