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Rays Decline $11 Million Option on Closer Pete Fairbanks, Making Him a Free Agent

Tampa Bay chose a $1 million buyout to preserve payroll flexibility.

Overview

  • The club declined Fairbanks' $11 million option and paid a $1 million buyout, immediately sending the right-hander into free agency.
  • The Rays also exercised 2026 options on infielders Brandon Lowe and Taylor Walls as part of their roster decisions.
  • Fairbanks delivered a 2.83 ERA over 60.1 innings with a career-high 27 saves in 2025 while holding the late-inning role.
  • Since 2020 he has recorded 83 saves with a 2.83 ERA for Tampa Bay, though his strikeout rate has settled around 24% the past two seasons.
  • Reporting forecasts multiyear interest in a relief market light on top-end options, boosted by his 97 mph fastball, plus slider and a midseason-added cutter that graded as elite.