Rays Spend $20 Million On Rasmussen

Tampa Bay Rays fans can expect their starting rotation to remain anchored by Drew Rasmussen for one more year. The club exercised a $20 million option on Saturday, securing the right-hander's services for the 2027 season. This financial commitment locks in the pitcher who led the team to an American League pennant earlier this fall.

The decision to pick up the option cost the organization $20 million. The Rays chose this path over paying a $500,000 buyout fee to Rasmussen. By keeping him, the team extends a deal that now totals $28 million over three seasons. The contract's value increased from the original $8 million option price to $20 million because Rasmussen stayed healthy and made at least 28 starts during the 2026 regular season.

Rasmussen's performance this year justified the expense. The 31-year-old posted a 2.67 earned average while going 16-5 in 30 regular season starts. In the postseason, he was 2-1 with a 2.20 ERA in five appearances. His durability was a key factor in the Rays' run, as he threw a career high of 172 innings in the regular season and 28 2/3 innings in the playoffs.

His workload came with physical risk. Rasmussen has undergone three major elbow operations, including two Tommy John surgeries and an internal brace procedure. Despite this history, he pitched into the eighth inning of a no-hitter against the New York Yankees in the Division Series opener. He also took the loss in Game 5 of the World Series, pitching four innings on three days' rest as the Milwaukee Brewers won their first championship.

The move to keep Rasmussen stands in contrast to the club's other roster decisions on Friday. The Rays declined mutual options on starting pitcher Nick Martinez and outfielder Cedric Mullins. Martinez, 36, had a $20 million mutual option with a $4 million buyout. Mullins, 32, held a $10 million mutual option with a $500,000 buyout. The team chose to let both contracts expire rather than exercise those clauses.