MLB Insider Shares Bold Prediction on How Much Money Pete Fairbanks Will Receive

How much money does an MLB insider believe that former Tampa Bay Rays closer Pete Fairbanks will receive in free agency?

Jul 22, 2025; Tampa, Florida, USA; Tampa Bay Rays pitcher Pete Fairbanks (29) throws to first for an out against the Chicago White Sox in the ninth inning at George M. Steinbrenner Field. | Nathan Ray Seebeck-Imagn Images

One of the biggest moves that the Tampa Bay Rays have made this offseason was declining the club option they had on closer Pete Fairbanks.

Heading into the winter, many thought it was a foregone conclusion that the Rays would exercise the $11 million option on the right-handed veteran. He has been incredibly productive when healthy and was viewed by analysts as one of the best trade chips that would be available.

However, Tampa Bay surprised a lot of people by declining the option. Instead, they paid a $1 million buyout, making Fairbanks a free agent.

Rumors swirled that his market was not as strong as predicted. Teams weren’t willing to commit that kind of money to a relief pitcher so early in the offseason. Instead of running the risk of being saddled with that contract, the Rays declined the option, opening up $10 million to spend.

How much money will Pete Fairbanks make in free agency?

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

Evidently, it seems that they made the right choice. There has been a lot of movement on the relief pitching market this offseason, but Fairbanks remains available.

Despite teams aggressively pursuing bullpen arms, there is still interest in the former Tampa Bay closer. However, MLB insider Ken Rosenthal of The Athletic (subscription required) doesn’t believe he is going to land a contract that pays him the $11 million the Rays declined.

Rosenthal mentioned the Miami Marlins as a team that could sign Fairbanks, but has predicted it will come in lower than the one-year deal he would have received from the Rays.

A reason for that is the direction that the relief pitchers market is heading. On Wednesday, two more deals were signed by established relievers: Brad Keller with the Philadelphia Phillies and Luke Weaver with the New York Mets.

Can Pete Fairbanks get a multi-year deal?

Aug 27, 2025; Cleveland, Ohio, USA; Tampa Bay Rays relief pitcher Pete Fairbanks (29) throws a pitch against the Cleveland Guardians during the ninth inning at Progressive Field. | Ken Blaze-Imagn Images

Both agreed to two-year, $22 million deals. With Edwin Diaz, Devin Williams, Robert Suarez and Ryan Helsley all off the board as well, Fairbanks is the only closer who remains available on the market.

That could certainly result in him squeezing out a few extra dollars if teams desperate for a late-inning relief pitcher get into a little bit of a bidding war. But, with so much money already being spent on bullpens around the league, he will be hard-pressed to receive a contract that pays $11 million.

However, one thing that he should still be able to land on a new deal is security. MLB insider Jeff Passan of ESPN does believe that Fairbanks will receive a multi-year deal, something only 10 other relievers have accomplished thus far this offseason.