Market Value for Rays' Free Agent Pete Fairbanks Starts to Take Shape

A recent signing by the Baltimore Orioles has made Rays' free agent Pete Fairbanks' value a bit clearer.

Sep 4, 2025; Tampa, Florida, USA; Tampa Bay Rays pitcher Pete Fairbanks (29) throws a pitch against the Cleveland Guardians in the ninth inning at George M. Steinbrenner Field. | Nathan Ray Seebeck-Imagn Images

With a recent signing by the Baltimore Orioles, the market and the value of Tampa Bay Rays’ free agent closer Pete Fairbanks has become a bit clearer. 

While there haven’t been a plethora of major moves just yet in free agency, there have been some deals starting to trickle in day by day. With the winter meetings right around the corner, things will undoubtedly begin to heat up in the coming weeks before the holidays and the new year. 

For the Rays, they have been mostly quiet as expected. The long significant move for the team so far in terms of an addition was the signing of outfielder Jake Fraley. However, they did make an important decision in the early part of the winter when they elected not to pick up the team option for their closer. 

While Fairbanks was set to make north of $10 million per year if they picked up the option, Tampa Bay decided that the number was too steep and let him walk in free agency. Now, he has emerged as one of the top relief pitching options, and his market value likely became a whole lot clearer. 

Ryan Helsley Sets Closer Market

Jordan Godfree-Imagn Images

Recently, the Baltimore Orioles have reportedly agreed to a two-year, $28 million deal with the former All-Star. The 2025 campaign wasn’t a great one for Helsley with the New York Mets after being dealt from the St. Louis Cardinals at the trade deadline. The Mets brought him in to create a fantastic duo with Edwin Diaz, but it didn’t pan out. 

Seemingly, Helsley’s market was robust, with teams believing that it was just a mechanical issue that could be easily fixed to regain his former glory. As shown by the contract he was given by the Orioles, they obviously believe that as well. 

For Fairbanks, the signing of Helsley is an excellent thing for him this winter. When looking at the stats in 2025, the former Rays closer was the better of the two. However, he hasn’t shown the elite upside that Helsley has in his career. 

As free agency rolls on, it certainly seems more likely now that Fairbanks is going to be getting a multi-year deal from a team this winter. Furthermore, a contract north of $20 million in total seems like a fair number. For the Rays, it still seems shocking that they weren’t going to be able to get anything of value for him.