Rays Closer Pete Fairbanks Becomes Free Agent when Option Declined. Rays Keep Brandon Lowe
The Rays opted for a $1 million buyout due to payroll limits despite Fairbanks’ 27 saves in 2025 and strong relief corps returning.
- On Thursday, the Tampa Bay Rays declined an $11,000,000 option on closer Pete Fairbanks, making him a free agent while exercising an $11.5 million option on Brandon Lowe.
- Facing payroll constraints, the Rays opted for a $1 million buyout instead of paying Pete Fairbanks' option, citing a strong relief corps and limited 2026 payroll growth.
- Fairbanks combines a 97 mph fastball with an above-average slider and a midseason cutter, boasting 83 saves, a 2.83 ERA, and 332 strikeouts over 265.1 innings.
- Ranked behind Edwin Diaz, Pete Fairbanks slots into a second tier of closers alongside Devin Williams, Robert Suarez, Ryan Helsley and Tyler Rogers, and should draw multiyear interest in a soft market.
- Meanwhile, the Tampa Bay Rays added a $3.1 million club option for 2027 and exercised a $2,450,000 option on infielder Taylor Walls.
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Associated Press News
Rays closer Pete Fairbanks becomes free agent when option declined. Rays keep Brandon Lowe
The Tampa Bay Rays declined an $11 million option on Pete Fairbanks, allowing their closer to become a free agent, while exercising an $11.5 million option on Brandon Lowe.
Rays Surprisingly Decline Option on Veteran Closer
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. Jun 30, 2025; Tampa, Florida, USA; Tampa Bay Rays pitcher Pete Fairbanks (29) throws a pitch during the ninth inning against the Athletics at George M. Steinbrenner Field. Mandatory Cre…
Rays pick up '26 options on Lowe, Walls; decline Fairbanks' option
The Rays are picking up their contract options on both second baseman Brandon Lowe and shortstop Taylor Walls, but they declined to pick up the club option for reliever Pete Fairbanks, the team announced on Thursday. Also among a bevy of other roster moves on Thursday, the Rays reinstated Walls
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