Drew Rasmussen is set to become the highest paid player in franchise history.
Prior to the start of the 2025 season, the Rays signed Rasmussen to a two year deal with a team option for the 2027 season. The original option was for $8M but thanks to escalators, the amount has jumped up to $20M for next season, with a $500K buyout.
On Saturday, October 31st, it was reported that Tampa Bay will be picking up the $20M option.
During the 2026 season, Rasmussen fully cemented himself as one of the game’s top
starting pitchers with a truly incredible year. The 31-year old hurler set a new career high in innings pitched as the Rays eased off the restrictions and allowed Rasmussen to dominate late into games. Overall, Rasmussen compiled a 2.67 ERA | 2.84 FIP with a 26.0 K% & 4.8 BB% over 172 IP, accruing 5.0 fWAR.
Since the start of the 2022 season, Rasmussen ranks 2nd among pitchers at least 600 IP in ERA (2.76), is tied for 1st in WHIP (1.01), and has the 6th lowest opponent average (.211). This should have been an easy decision for the Rays, but the $20M is the highest in franchise history given to a player in a single year; the current high was $15M to Charlie Morton in 2020 and then the Rays chose to decline their $15M option on Morton for the 2021 season despite dazzling results. So the Rays choosing to accept Rasmussen’s 2027 option was anything but a certainty.
