Rays Exercise $20M Option on Ace Drew Rasmussen for 2027 Season

Tampa Bay opted to pay Drew Rasmussen $20 million for the 2027 season rather than trigger a $500,000 buyout.

The American League champion Tampa Bay Rays exercised a $20 million club option on ace pitcher Drew Rasmussen for the 2027 season on Saturday. According to ESPN, the decision follows a regular season where the 31-year-old right-hander posted a 16-5 record and a 2.67 ERA across 30 starts. By picking up the option, the Rays avoided paying a $500,000 buyout for the two-time All-Star, who remains eligible for free agency after next year.

Rasmussen’s 2027 salary increased from an initial $8 million to $20 million because he remained healthy throughout 2026 and reached a 28-start threshold. This adjustment brings the total value of his three-season tenure to $28 million. During the 2026 campaign, he logged a career-high 172 innings in the regular season and added 28⅔ innings during the playoffs. In the Division Series opener against the New York Yankees, he struck out 10 batters and maintained a no-hitter into the eighth inning to secure a 1-0 win.

During Tampa Bay’s run to its third pennant, Rasmussen went 2-1 with a 2.20 ERA in five postseason starts. He started Game 5 of the World Series against the Milwaukee Brewers on three days' rest, pitching four innings and allowing one run in a 4-1 loss that clinched the title for Milwaukee. Earlier in the series, he received a no-decision in Game 2 after throwing 89 pitches over 3⅔ innings.

While retaining Rasmussen, the Rays declined mutual options on two other veterans on Friday. The club turned down a $20 million option for 36-year-old pitcher Nick Martinez, paying a $4 million buyout instead. Additionally, Tampa Bay declined a $10 million option for outfielder Cedric Mullins, 32, opting for a $500,000 buyout.