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Rays Decline $11M Option on Closer Pete Fairbanks

11/7/2025

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Summary

Story summary

The Tampa Bay Rays declined their $11 million option on Pete Fairbanks, the Rays' closer, making him a free agent.
Fairbanks turned 32 in December and posted a 2.83 ERA with 27 saves in 2025 across 60.1 innings.
The Rays chose a buyout instead of a high reliever payroll.
Fairbanks has a 3.19 ERA over seven seasons and is expected to draw interest in a soft market for relief pitchers.

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Story summary

The Tampa Bay Rays declined their $11 million option on Pete Fairbanks, the Rays' closer, making him a free agent.
Fairbanks turned 32 in December and posted a 2.83 ERA with 27 saves in 2025 across 60.1 innings.
The Rays chose a buyout instead of a high reliever payroll.
Fairbanks has a 3.19 ERA over seven seasons and is expected to draw interest in a soft market for relief pitchers.