ST. PETERSBURG, Fla. — The Tampa Bay Rays, based in St. Petersburg, will hold on to their best starting pitcher for at least one more season. The reigning American League champions exercised a $20 million club option on Drew Rasmussen for 2027 on Saturday, passing on a $500,000 buyout.
That figure would be the largest one-year salary the franchise has ever paid. The previous high was $15 million, earned by Charlie Morton in 2019, so keeping Rasmussen marks a real stretch for a club that has long run one of the smaller payrolls in the majors.
The option began at $8 million under the two-year, $8.5 million deal Rasmussen signed in January 2025. Escalators in that contract kicked in because he stayed healthy all year and made at least 28 starts this season, lifting the price to its maximum. The right-hander is now on track to reach free agency after next season.
Rasmussen, 31, put together the best year of his career. He posted a 2.67 ERA and a 16-5 record across 30 regular-season starts and led the league with a 0.91 WHIP, anchoring a staff that carried the club to an AL East crown and its third pennant. He also logged a career-best workload in innings.
In October he opened the Division Series by holding New York hitless into the eighth inning. In the World Series he took the ball for Game 5 on short rest against Milwaukee and allowed one run in four innings, but the Brewers won 4-1 to take the title.
One day before the Rasmussen move, Tampa Bay passed on mutual options for two other veterans, starter Nick Martinez and outfielder Cedric Mullins, leaving both free to test the open market.
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