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Inside The Rays

Rays Pitcher Not Surprisingly Predicted To Decline Mutual Option

A Tampa Bay Rays pitcher is expected to hit the open market this offseason.
Aug 16, 2025; San Francisco, California, USA; A Tampa Bay Rays helmet sits in the dugout before the game against the San Francisco Giants at Oracle Park. Mandatory Credit: Darren Yamashita-Imagn Images
Aug 16, 2025; San Francisco, California, USA; A Tampa Bay Rays helmet sits in the dugout before the game against the San Francisco Giants at Oracle Park. Mandatory Credit: Darren Yamashita-Imagn Images | IMAGN IMAGES via Reuters Connect

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The Tampa Bay Rays made a few shrewd moves this offseason that have paid major dividends during the regular season.

Acquiring outfielder Victor Mesa Jr. from the Miami Marlins didn’t garner a ton of headlines, but he has been an impactful performer in the lineup. Cedric Mullins and Steven Matz, two free agent signings, have struggled at times but have had their moments to help the team win.

Easily the most impactful addition the Rays made was signing pitcher Nick Martinez right before spring training got underway. A deal that was panned coming into the year, the veteran righty has been magnificent for Tampa Bay on the mound.

It is that level of production that makes an offseason prediction shared by MLB insider Jeff Passan of ESPN shocking, but not all that surprising at the same time.

Nick Martinez predicted to have mutual option declined

Tampa Bay Rays starting pitcher Nick Martinez (28) throws a pitch.
Sep 16, 2026; St. Petersburg, Florida, USA; Tampa Bay Rays starting pitcher Nick Martinez (28) throws a pitch against the Oakland Athletics in the first inning at Tropicana Field. Mandatory Credit: Nathan Ray Seebeck-Imagn Images | IMAGN IMAGES via Reuters Connect

In a recent early MLB free agency intel piece, Passan predicted how things would turn out for players who have options for 2027. Martinez would fall into that category, owning a $20 million mutual option that both the team and he have to agree to pick up for him to earn that salary.

If not, there is a $4 million buyout, which would bump his 2026 guarantee up from $9 million to $13 million. Passan has predicted all mutual options will be declined, including that of Mullins, who was also on the list.

$20 million is a lot of money to pass up, but based on how well Martinez has performed this season, he could seek out a long-term deal. Given the dearth of starting pitching options available in free agency, Passan also believes Martinez is going to get paid this winter.

It is certainly deserved, because he is performing at an incredibly high level. He has thrown a career-high 171.1 innings through 29 starts with a 15-4 record and 2.94 ERA. How Martinez finds success is unique, because he isn’t blowing opponents away, striking out only 101 batters this season.

Nick Martinez would be smart to seek multi-year deal

Tampa Bay Rays pitcher Nick Martinez (28) pitches against the Atlanta Braves.
Sep 10, 2026; Cumberland, Georgia, USA; Tampa Bay Rays pitcher Nick Martinez (28) pitches against the Atlanta Braves during the first inning at Truist Park. Mandatory Credit: Dale Zanine-Imagn Images | IMAGN IMAGES via Reuters Connect

That low of a strikeout rate normally results in some regression to the mean, but Martinez has avoided extended slumps. He has done a great job keeping opponents off balance, inducing soft contact throughout the year.

With 3.8 bWAR and an ERA+ of 144, Martinez is in the midst of the best season of his career. He earned a spot on the All-Star team for the first time and is going to be taking the mound in the playoffs in a few weeks.

That will provide him another opportunity to boost his profile heading back into free agency, which makes Passan’s prediction of his mutual option being declined all the more likely, since he will look to cash in.

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Kenneth Teape
KENNETH TEAPE

Kenneth Teape is an alumnus of SUNY Old Westbury and graduated in 2013 with an Honors Degree in Media Communications with a focus on print journalism. During his time at Old Westbury, he worked for the school newspaper and several online publications, such as Knicks Now, the official website of the New York Knicks, and a self-made website with fellow students, Gotham City Sports News. Kenneth has also been a site expert at Empire Writes Back, Musket Fire, and Lake Show Life within the FanSided Network. He was a contributor to HoopsHabit, with work featured on Bleacher Report and Yardbarker. Previously, he is a reporter for both NBA Analysis Network and NFL Analysis Network, as well as a writer and editor for Packers Coverage. You can follow him on X, formerly Twitter, @teapester725, or reach him via email at teapester725@gmail.com.