Rays' Free Agent Pitcher Reportedly Signs One-Year, $13 Million Deal With Marlins

A free agent pitcher from the Tampa Bay Rays has reportedly signed with the Miami Marlins

Apr 24, 2024; Atlanta, Georgia, USA; A detailed view of a Miami Marlins hat and glove in the dugout before a game against the Atlanta Braves at Truist Park. | Brett Davis-Imagn Images

The Tampa Bay Rays have had a busy winter, and there is plenty of time to go before this team is a finished product for 2026. Reportedly, one of their free agents has finally signed with a new team. 

Coming into the winter, the Rays knew that they were going to have a lot of decisions to make to try to improve this team. After a poor second half of the 2025 campaign, the team came into the offseason with the goal of improving. 

However, even though new ownership took over, the team wasn’t expected to see much of an increase in payroll. Tampa Bay has continuously operated well in this area and is no stranger to making tough decisions regarding key players. 

That ended up being the case this winter, with the team making two decisions on team options for players. Firstly, the team elected to pick up the option on All-Star Brandon Lowe. This didn’t come as much of a surprise. However, they did just recently trade him as part of a blockbuster three-team deal. 

Furthermore, the team also made the decision not to pick up the option of closer Pete Fairbanks. This came as a shock to many, but Tampa Bay wanted to free up some money and clearly didn't believe that they would be able to trade him. Reportedly, the talented free agent has found a new team but will still be residing in Florida. 

Fairbanks Lands With Marlins

Reliever Pete Fairbanks and the Miami Marlins are in agreement on a one-year, $13 million contract, sources tell ESPN. Fairbanks, 32, had an $11 million option turned down by Tampa Bay and went onto the open market and beat it by $2 million. @WillSammon was first on the deal.

— Jeff Passan (@JeffPassan) December 24, 2025

Miami has been a team linked to the veteran closer for much of the winter, and these two sides have reportedly come to an agreement. The Marlins are a team that is hoping to take a step forward in 2026 after a strong second half of the campaign in 2025. 

Adding a pitcher of the caliber of Fairbanks will undoubtedly help them accomplish that. In 2025, he totaled 27 saves and a 2.83 ERA. The right-hander has been a proven closer the last few seasons and should be an upgrade. 

With the contract only being for one year at $13 million, the trade market likely was and would have been limited for his services. It is a bit surprising, considering what other relievers received, that he didn’t get a multi-year deal. 

Overall, the decision made by the Rays based on the contract has now proven to be the right one, more than likely. With him set to make basically the same, the Rays likely wouldn’t have been able to deal him for a worthwhile prospect.