MLB Insider Believes Rays' Pete Fairbanks Could Be Next Closer to Sign

Will a free agent from the Tampa Bay Rays be the next player to sign?

Sep 17, 2025; Tampa, Florida, USA; Tampa Bay Rays pitcher Pete Fairbanks (29) throws a pitch against the Toronto Blue Jays in the ninth inning at George M. Steinbrenner Field. | Nathan Ray Seebeck-Imagn Images

With the winter meetings set to start in Florida, the Tampa Bay Tays will be seeking improvements heading into the 2026 season. 

So far this offseason, the Rays have already started to make some moves in hopes of improving their team. With the outfield being a need for the team, they have begun to address that and could be set after adding two veterans. 

Recently, the team signed Cedric Mullins and Jake Fraley to one-year deals in hopes of them improving their offensive production from the unit. With two new outfielders coming in, the team could look to move at least one of their players from last year in a trade with a plethora of depth. 

While adding those two players should help in the outfield, one of the surprising moves was Tampa Bay's electing not to pick up the team option for Pete Fairbanks. This resulted in the right-hander becoming a free agent, and he seemingly has a strong market of suitors. 

Jeff Passan of ESPN recently wrote about Fairbanks, along with Detroit Tigers pitcher Kyle Finnegan, being one of the next closers who could sign this winter. 

Closer Market Has Taken Shape

Dave Nelson-Imagn Images

Of all the positions, the closer market is arguably the one that has started to move the quickest this winter. Ryan Helsley got things going by signing a deal with the Baltimore Orioles to set the tone for the position. The former All-Star got a lucrative contract from the Orioles, and he figures to be a pitcher that Fairbanks can compare himself to in free agency. 

Following Helsley's signing was the New York Mets' landing of Devin Williams to a massive three-year deal. Despite struggling in 2025 with the New York Yankees, that didn’t stop the right-hander from getting paid handsomely. 

While Edwin Diaz will be the top prize in the closer market, there are several strong options besides him who could sign before him. Fairbanks is undoubtedly one of them, and his value figures to mirror that of Helsley. 

For Tampa Bay, their decision not to pick up his option is likely going to be one that they regret. Based on interest in Fairbanks, the Rays seem like they could have either traded him this winter or potentially at the deadline to get something in return. 

It will be interesting to see what the final number that the right-hander ends up signing for is, and it could be an indication of whether or not the team would have been able to receive something for him.