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Sources: Marlins Reach One-Year, $13 Million Agreement With Closer Pete Fairbanks

The 32-year-old is coming off a career-high workload in 2025 following Tampa Bay’s decision to decline his 2026 option.

Overview

  • Multiple outlets report the agreement at $13 million for one year, and the Marlins have not announced the deal.
  • Fairbanks posted a 2.83 ERA with 27 saves over 61 appearances and 60 1/3 innings in 2025.
  • The Rays declined his $11 million option for 2026 and paid a $1 million buyout, sending him into free agency.
  • Across 2020–25, he logged 254 games, 88 saves and a 2.87 ERA, leaving Tampa Bay with the third-most saves in club history at 90.
  • His strikeout rate dipped to 24.2% in 2025, yet he sustained 97.3 mph fastball velocity and a 93rd-percentile barrel rate.