The Rays exercised an ace right-hander Drew Rasmussenthe club’s option for 2027, according to a team announcement. Rasmussen is on track to make $20 million next season.
It was a slamming move for the 2026 American League champions, who have seen Rasmussen emerge as one of the majors’ best starters over the past few years. Acquired from the Brewers in a May 2021 trade focused on shortstop Willy AdamèsRasmussen posted an excellent 2.73 ERA in 133 appearances (111 starts) and 600 1/3 innings as a Ray. An internal relief procedure limited him to 73 1/3 innings from 2023-2024, but he has made 61 starts since then and has continued to produce excellent results.
Last season, in which he earned his second straight All-Star nomination, counts as the best of Rasmussen’s career. Over the course of a career-best 172 innings, the 31-year-old posted a 2.67 ERA with above-average strikeout and walk rates of 26% and 4.8%, respectively. He ranked seventh in the majors in ERA and fWAR (5.0), while his walk rate was second among qualified starters. Teammate Nick Martinez finished first in this category.
Thanks in large part to Rasmussen, Martinez and the rest of their pitching staff, the Rays won 98 games and entered the playoffs as the AL’s No. 1 seed. Rasmussen largely thrived in the postseason, helping the Rays win their third pennant in franchise history. In five outings and 28 2/3 frames in October, Rasmussen recorded a 2.20 ERA with 31 strikeouts against five walks. The Rays eliminated the Yankees and Guardians in their first two playoff rounds, but fell to Rasmussen’s former team, the Brewers, in a five-game World Series. He touched the rubber twice in the Fall Classic, including in a 4-1 loss in Game 5, and combined for 7 2/3 four-run innings.
While many teams would be happy to have Rasmussen in the fold for $20 million, it’s fair to wonder if he’s put on a Rays uniform for the last time. In their list of the top 40 trade prospects this offseason, MLBTR’s Steve Adams, Anthony Franco and Darragh McDonald placed Rasmussen at number two. As great as he is, the notoriously thrifty Rays have never paid a player $20 million for a season. Rasmussen’s $20 million option, which came with the two-year, $8.5 million extension he signed in 2025, had a base value of $8 million. However, that figure jumped $12 million because it hit the health and sleeve escalators.
Including Rasmussen’s money, MLBTR’s Payroll Tracker (via contributor Ethan Hullihen) estimates the Rays have more than $105 million in cash commitments for next season. They have never entered a season with a nine-figure payroll, which could jeopardize Rasmussen’s chances of remaining with the organization. Between his high salary (by Rays standards) and the fact that he only has one year of team control left, the Rays could move Rasmussen for a strike this offseason. There would be no shortage of suitors. If Rasmussen were a free agent this year, he would be the second most sought-after starter after Tarik Skubal.
Rasmussen could be released via trade, while Martinez and Freddy Peralta could work in free agency. If all three left, the Rays would still have Shane McClanahan, Ryan Pepiot (who missed 2026 due to hip injury), Griffin Jax And Ian Seymour among their rotation options for 2027.
Photo courtesy of Nathan Ray Seebeck, Imagn Images
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