Fairbanks hits free agency after Rays decline $11M option

The Tampa Bay Rays declined closer Pete Fairbanks' $11-million option for the 2026 season Thursday.

Fairbanks is now a free agent after authoring a 2.83 ERA with 27 saves over 61 appearances in 2025.

The 31-year-old owns a 2.98 ERA with 90 saves and 11.1 K/9 over seven seasons with the Rays.

Fairbanks finished in the 90th percentile in fastball velocity and 93rd in barrel rate this year.

Tampa Bay did pick up second baseman Brandon Lowe's $11.5-million option and shortstop Taylor Walls' $2.45-million option for next season. Walls also received a new club option for 2027; financial terms were not disclosed.

The Rays also designated outfielder Kameron Misner and first baseman Bob Seymour for assignment, while selecting right-hander Forrest Whitley as part of a larger series of 40-man roster machinations Thursday. The team also claimed outfielder Jake Fraley off waivers from the Atlanta Braves.