Former Rays Closer Pete Fairbanks Signing With Marlins Receives Solid Grade
In this story:
The Tampa Bay Rays made one of the more surprising moves of the MLB offseason when they decided to decline the club option they had on closer Pete Fairbanks.
Instead of paying him $11 million, they declined that and had to pay a $1 million buyout. Viewed as one of the best trade chips in baseball entering the offseason, when they canvassed the league to see his value, there wasn’t much of a market for him.
As a result, they decided to move on from him, not wanting to risk carrying that salary throughout the winter. The Rays have put those savings back into the team, signing outfielders Cedric Mullins and Jake Fraley and pitcher Steven Matz in free agency.
Tampa Bay has also gotten quite a haul of prospects in two major trades, so moving on from Fairbanks hasn’t hurt them in that regard either. In a three-team deal that saw second baseman Brandon Lowe traded to the Pittsburgh Pirates, the Rays received outfielder Jacob Melton and right-handed pitcher Anderson Brito from the Houston Astros.
In exchange for starting pitcher Shane Baz from the Baltimore Orioles, Tampa Bay received catcher Caden Bodine, outfielders Slater de Brun and Austin Overn, pitcher Michael Forrett and a 2026 MLB Draft pick.
Pete Fairbanks signing receives solid grade
While the Rays were making those moves, Fairbanks was still available on free agency, awaiting the right fit for him. He was the last real closer available, eventually cashing in on a deal with the Miami Marlins.
The two sides agreed to a one-year, $13 million deal, which means the veteran righty will earn $14 million in total. Surpassing the $11 million option Tampa Bay declined was certainly a surprise, as was not securing a multi-year deal.
While the amount could be viewed as a slight overpay in terms of AAV, adding Fairbanks is a great move for a Marlins team looking to be more competitive in 2026. Bradford Doolittle of ESPN gave the deal a B-, which is a fair grade.
He isn’t blowing away opponents with incredible strikeout stuff as much as he was earlier in his career, but Fairbanks remains an effective late-game option. A career-high 27 saves were recorded in 2025 with a 2.83 ERA.
Those numbers were produced in spite of his allowing a career-worst seven home runs. He has improved his control in recent years, and it would not be a surprise to see the home runs allowed decrease now that he isn’t calling Steinbrenner Field home any longer.
A one-year deal, even with a little higher than anticipated AAV, is a fine investment for Miami. If he performs well, he can be flipped at the deadline as a trade chip. Should things go awry, there is no long-term commitment to worry about.
More Rays News:
Kenneth Teape is an alumnus of SUNY Old Westbury and graduated in 2013 with an Honors Degree in Media Communications with a focus on print journalism. During his time at Old Westbury, he worked for the school newspaper and several online publications, such as Knicks Now, the official website of the New York Knicks, and a self-made website with fellow students, Gotham City Sports News. Kenneth has also been a site expert at Empire Writes Back, Musket Fire, and Lake Show Life within the FanSided Network. He was a contributor to HoopsHabit, with work featured on Bleacher Report and Yardbarker. Previously, he is a reporter for both NBA Analysis Network and NFL Analysis Network, as well as a writer and editor for Packers Coverage. You can follow him on X, formerly Twitter, @teapester725, or reach him via email at teapester725@gmail.com.