Rays Decline Closer Pete Fairbanks’ Option, Making Him a Free Agent

ST. PETERSBURG, Fla. — The Tampa Bay Rays have declined their $11 million option on closer Pete Fairbanks, making him a free agent as of Thursday. This decision came alongside several others announced by the team.

Fairbanks, who turns 32 in December, has been a key figure in the Rays’ bullpen for the last four seasons. Throughout his tenure, he has saved 83 games and recorded a 2.83 ERA. In 265.1 innings pitched, he struck out 332 batters while walking 103.

The hard-throwing right-hander has garnered attention for his fastball, which averages 97 mph, and his arsenal now includes a well-regarded slider and a cutter deemed elite. With the closer market being relatively soft, Fairbanks is expected to attract multiyear offers.

His best full season came in 2023 when he struck out 13.5 batters per nine innings. However, concerns about his durability persist as he has never thrown more than 60.1 innings in a season until 2025, when he logged a career-high 27 saves.

Fairbanks has spent most of his career with the Rays after being acquired from the Texas Rangers, where he initially started in 2019. Over 275 career appearances, he has a 3.19 ERA and a WHIP of 1.17. His strikeout rates were higher in earlier years, consistently above 29%, but have recently dipped to around 24%.

Despite the reduced strikeout numbers, Fairbanks remains a reliable option in high-leverage situations. While Tampa Bay valued his contributions, they opted to pay a $1 million buyout instead of investing heavily in his contract for the upcoming season.

As Fairbanks enters the free-agent market, he joins a list of notable closers, including Edwin Díaz and Robert Suárez, increasing the competition for teams looking to bolster their bullpens.