Two Suitors Seen as Favorites to Sign Former Rays Closer Pete Fairbanks

Which two teams are the favorites to land former Tampa Bay Rays closer Pete Fairbanks?

Sep 13, 2025; Chicago, Illinois, USA; Tampa Bay Rays pitcher Pete Fairbanks (29) pitches against the Chicago Cubs during a game at Wrigley Field. | Patrick Gorski-Imagn Images

The Tampa Bay Rays are going to be heading to the winter meetings soon with an eye on trying to improve heading into 2026. However, one of their free agents might be landing somewhere else more quickly. 

As a team with a low payroll, the Rays always do a strong job of maximizing what they have on the roster. Very rarely will they let an impending free agent finish the campaign without trading them and getting something in return. 

This formula has helped result in them being able to keep a strong farm system with new and younger talent continuously coming in. Shockingly, the team decided to decline the option on their star closer this winter, making him a free agent and not getting anything in return. 

While the option on Pete Fairbanks was going to be expensive, he figured to be a player that the team would have been able to trade this offseason. Now, he is a desirable free agent and could be landing with a new team soon. 

Ken Rosenthal of The Athletic (subscription required) recently wrote about the Toronto Blue Jays and Miami Marlins being the two most likely landing spots for Rays closer Pete Fairbanks in free agency. 

Strong Suitors Emerge

Nathan Ray Seebeck-Imagn Images

After the signing of Ryan Helsley by the Baltimore Orioles, the expectation is now that the relief pitcher market might start to move. While Edwin Diaz is going to be the top closer and his market could take a bit longer to develop, Fairbanks’ value feels very similar to that of Helsley. 

In 2025, Fairbanks totaled 27 saves and a 2.83 ERA in a very strong campaign. It was his third straight year as the closer for Tampa Bay, and the results have been strong and consistent. 

For both the Blue Jays and the Marlins, each is seeking some additional bullpen help, and Fairbanks could be the answer. While Toronto will be seeking to add a high-leverage relief pitcher to help push them over the top in 2026, the Marlins will be seeking to improve to challenge in the National League East. 

The talented closer would be an excellent addition for either team, and it will be interesting to see if he can get a deal similar to Helsley. Based on his consistency over the last several years as a closer, that figures to be a good number for him to aim for.