Closer Pete Fairbanks will hit free agency after the Tampa Bay Rays declined their $11 million option on him Thursday.
Fairbanks, who turns 32 in December, will be one of the top relievers available in a market soft with high-leverage options. As the primary closer for the Rays over the last four seasons, he has saved 83 games and posted a 2.83 ERA, striking out 332 and walking 103 in 265.1 innings.
With a fastball that sits at 97 mph, a well-above-average slider and a cutter that was added midseason in 2025 and graded out as an elite pitch, Fairbanks is expected to draw multiyear interest in a free agent market soft with relief options.
After the top reliever on the market, right-hander Edwin Diaz, Fairbanks slots in strongly in the second tier, with right-handers Devin Williams, Robert Suarez, Ryan Helsley and Tyler Rogers. Others with multiple years of closing experience include left-hander Taylor Rogers and right-handers Kyle Finnegan, Raisel Iglesias, Emilio Pagan, Kenley Jansen and David Robertson. Relievers expected to draw interest from teams include right-handers Brad Keller and Luke Weaver, plus left-handers Steven Matz and Caleb Ferguson.
While Tampa Bay valued Fairbanks, its payroll going into the 2026 season is unlikely to climb, and the Rays chose to pay the $1 million buyout on the deal rather than devote a significant portion of its payroll to a relief pitcher with a strong relief corps returning.
Fairbanks’ best full season came in 2023, when he struck out 13.5 batters per nine innings and had greater than an 11-to-1 strikeout-to-walk ratio. With questions about his durability present after never throwing more than 45.1 innings in a season, Fairbanks booked a career-best 60.1 innings in 2025 and logged a career-high 27 saves.
