Rays Lock Rasmussen For 2027

The Tampa Bay Rays exercised a $20 million option on pitcher Drew Rasmussen on Saturday.

The club chose to activate the 2027 option instead of paying a $500,000 buyout. Rasmussen will remain under contract for the 2027 season before becoming a free agent.

Rasmussen signed an $8.5 million, two-year agreement with Tampa Bay in January 2025 to avoid arbitration. He earned a $5.5 million salary during the 2026 campaign. The 2027 option price originally stood at $8 million. It increased to $20 million because the pitcher stayed healthy and made at least 28 starts. The total contract value now reaches $28 million over three years.

The 31-year-old right-hander posted a 16-5 record with a 2.67 ERA in 30 regular season starts. His performance helped the Rays capture the AL East title. In the postseason, he went 2-1 with a 2.20 ERA across five starts. Tampa Bay secured its third American League pennant during that stretch.

Rasmussen started Game 5 of the World Series against the Milwaukee Brewers on three days of rest. He left the game trailing 1-0 after four innings. The Brewers won 4-1 to claim their first championship. In Game 2, he threw 89 pitches over 3 2/3 innings. Milwaukee rallied for a 5-4 victory to take a 2-0 lead in the series.

In his first playoff appearance, Rasmussen held the New York Yankees scoreless through the eighth inning. He struck out 10 batters in a 1-0 Division Series win. He threw a career high 172 innings in the regular season and added 28 2/3 in the playoffs. The pitcher has undergone three major elbow surgeries, including Tommy John procedures in 2016 and 2017 and an internal brace operation in 2023. His career record stands at 46-22 with a 2.83 ERA in 160 games.

The Rays also declined mutual options on two other players on Friday. Starting pitcher Nick Martinez had a $20 million option with a $4 million buyout. Outfielder Cedric Mullins had a $10 million option with a $500,000 buyout attached to his one-year deals.