Healthy Rasmussen Triggers $20M Bump, Securing Rays Rotation for 2027
Tampa Bay exercised the club option on its ace pitcher after he helped secure the team's third American League pennant.
By Ayanda Boateng ·
The Tampa Bay Rays exercised a $20 million club option on pitcher Drew Rasmussen on Saturday. This move locks the 31-year-old right-hander into a contract for the 2027 season. The team paid the full option amount rather than paying a $500,000 buyout to release him.
The financial structure of Rasmussen's deal changed earlier this year. He signed an $8.5 million, two-year contract in January 2025 to avoid arbitration. His 2027 option price initially stood at $8 million. The price increased to $20 million because Rasmussen stayed healthy and made at least 28 starts during the 2026 campaign. This adjustment brings the total value of his agreement to $28 million over three seasons.
Rasmussen earned a $5.5 million salary for the 2026 season. His performance on the mound anchored the Rays' rotation. He posted a 16-5 record with a 2.67 ERA in 30 regular season starts. Those efforts contributed to the Rays winning the American League East title. In the postseason, he went 2-1 with a 2.20 ERA across five appearances as Tampa Bay captured its third divisional championship.
The 31-year-old pitcher faced Milwaukee in the World Series. He started Game 5 on three days of rest. Rasmussen threw four innings and left the game trailing 1-0. The Brewers defeated the Rays 4-1 in that game to win their first title. In Game 2, he threw 89 pitches over three and two-thirds innings in a no-decision as Milwaukee won 5-4.
Rasmussen threw a career-high 172 innings during the regular season. He added 28 and two-thirds innings in the playoffs. His durability is notable given his medical history. He has undergone three major elbow operations, including Tommy John surgeries in 2016 and 2017 and an internal brace procedure in 2023. Over seven seasons with Milwaukee and Tampa Bay, he holds a 46-22 record and a 2.83 ERA in 160 games.
The Rays also made roster decisions on Friday regarding other veterans. They declined mutual options on starter Nick Martinez and outfielder Cedric Mullins. Martinez, 36, had a $20 million mutual option with a $4 million buyout. Mullins, 32, had a $10 million mutual option with a $500,000 buyout on his $7.5 million contract.
