Well, that registers as a bit of a surprise. The Tampa Bay Rays declined the contract option on veteran reliever Pete Fairbanks minutes before the deadline on Thursday. Fairbanks can now test free agency after the Rays declined their end of an $11 million option.
Rays Decline Team Option on Pete Fairbanks
An Interesting Twist
The move registers as a shock because the Rays could have traded him even if they picked up the option. Fairbanks, 31, found himself attached to trade rumors for contending teams in need of bullpen help. Tossing 60 1/3 innings, he posted a 2.83 ERA and a 1.044 WHIP with 59 strikeouts and 18 walks. He possesses even splits and has a 97.3 fastball velo that resides in the 90th percentile. His strikeout and walk rates are above average, and he still generates grounders at a 45.8% clip. Overall, Fairbanks represents a sizable subtraction for a bullpen that was struggling for large parts of the season.
#Rays have declined Pete Fairbanks $11M option, and will pay him a $1M buyout as he becomes a free agent. First reported by @JeffPassan
— Marc Topkin (@TBTimes_Rays) November 6, 2025
It’s an enticing package for a team that can utilize him at the back end of a bullpen. At that price, Fairbanks represented a huge discount from guys like Josh Hader, Edwin Diaz, Ryan Pressly, etc. It’s hard to understand why the Rays would necessarily balk at the financial figure. Still, Tampa Bay can always spread the money around the rest of the roster and get more value. Heck, maybe they can reunite on a lower dollar amount with the native of Wisconsin.
Few Inconsistencies
In 2025, Fairbanks was a solid closer who posted a career high 27 saves in 32 opportunities as he shouldered a heavy workload. Closing games is a thankless job because fans only blame you when things go wrong. Still, he probably gave up too many home runs, and the Rays felt he wasn’t worth it at that price point. There have also been injury episodes over the past few years.
Having said that, he still has a 2.98 ERA in parts of seven years with the Rays. Meanwhile, his strikeout rate is on a decline, and he posted a slightly elevated 43% hard-hit rate this season. His .241 BABIP indicates that Fairbanks was possibly the recipient of bad luck this season.
Takeaways
It’s hard to speculate why the Rays decided to make this move without further clarification. Does the front office believe his best days are over? Is his value depressed on the open market? Is there a larger issue about ownership not willing to spend money? The answer to those questions will only be revealed with the passage of time. The larger question shifts to whether the front office believes Griffin Jax is ready to assume closer duties. Edwin Uceta is still nasty, but there are questions with Hunter Bigge and Manuel Rodriguez. The Rays have plenty of work to do in the bullpen.
The worst outcome would be Fairbanks signing with another team and rediscovering a new form. Please don’t tell us that he will take his talents to the World Series champion Los Angeles Dodgers alongside talents like Blake Snell and Tyler Glasnow! The Rays will now be competing with the rest of baseball to determine his value on the open market. They continue to move players even though they are fan favorites. Fans would like to give the organization the benefit of the doubt as they embark on an important offseason.
Main Photo Credit: Kim Klement Neitzel-Imagn Images
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