Former Rays Pitcher May Now Be Out Of Tampa Bay’s Price Range

He is one of the top remaining relievers in free agency.

Sep 26, 2025; Toronto, Ontario, CAN; The hat and glove of Tampa Bay Rays third baseman Junior Caminero (13) in the dugout during the game against the Toronto Blue Jays at Rogers Centre. Mandatory Credit: John E. Sokolowski-Imagn Images | John E. Sokolowski-Imagn Images

The Tampa Bay Rays have made a few modest free agent moves this offseason. They have signed both Cedric Mullins and Steven Matz to short-term deals, but there are still questions for them to answer.

They could still use some help on the pitching side, especially in the bullpen. Right-hander Pete Fairbanks is a free agent and may not be returning to Tampa Bay. He is now likely the top reliever available in free agency.

Jeff Passan of ESPN predicts that the veteran right-hander could land a solid payday this offseason as the only remaining closer on the open market.

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Ex-Rays Pitcher Could Land Solid Payday In Free Agency

Sep 13, 2025; Chicago, Illinois, USA; Tampa Bay Rays pitcher Pete Fairbanks (29) celebrates after defeating the Chicago Cubs at Wrigley Field. Mandatory Credit: Patrick Gorski-Imagn Images | Patrick Gorski-Imagn Images

“The only closer left is Pete Fairbanks, who should get either multiple years or well over the $11 million option declined by Tampa Bay. Beyond that, the pickings are slim,” Passan wrote.

Based on Passan’s reporting, Fairbanks may now be out of the Rays’ price range. They are a small-market team and typically don’t spend big in free agency, and after a solid season, Fairbanks could be in for a much bigger contract.

The 32-year-old right-hander went 4-5 with a 2.83 ERA in 2025 and recorded 27 saves in 61 appearances, so a multi-year deal could be in the cards for him.

This would seemingly make it unlikely that the Rays will re-sign him. He’ll likely end up going to a team with better financial resources in 2026, and the Rays will struggle to match a bigger-market team’s offer.

Ryan Helsley, Luke Weaver, Devin Williams, Robert Suarez and Edwin Diaz are all off the market, which means Fairbanks’ stock is likely to rise in the next few weeks as teams look for ways to improve their bullpens for 2026.

Fairbanks has spent parts of seven seasons with the Rays, having been acquired from the Texas Rangers in 2019, his rookie season. It will be interesting to see what his market looks like now that some of the top names are officially off the board.

His market should start to materialize here shortly, and a lot of teams should be in on him, especially with so many relievers having already signed. We’ll see what ends up happening with Fairbanks and which teams will show interest.

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