Tampa Bay Rays Activate $20 Million Option for Drew Rasmussen

Tampa Bay Rays front office officials exercised a $20 million club option on starting pitcher Drew Rasmussen on Saturday. This move locks in the 31-year-old right-hander for the 2027 season.

The Rays chose to pay the $20 million option rather than pay Rasmussen a $500,000 buyout. Rasmussen is a two-time All-Star who can become a free agent after the next season. The decision follows a strong 2026 campaign where the pitcher helped lead the team to an American League East title.

The contract structure changed due to Rasmussen's health and workload. He originally signed an $8.5 million, two-year deal in January 2025 to avoid arbitration. The 2027 option price rose from $8 million to $20 million because Rasmussen stayed healthy and made at least 28 starts this year. This adjustment makes his total compensation $28 million over three seasons.

Rasmussen posted a 16-5 record with a 2.67 earned average in 30 regular season starts. In the postseason, he went 2-1 with a 2.20 ERA over five appearances as Tampa Bay won its third pennant. He threw a career high 172 innings in the regular season and pitched another 28 2/3 innings in the playoffs.

His performance included a no-hitter that lasted into the eighth inning against the New York Yankees in the Division Series. He also started Game 2 of the World Series, throwing 89 pitches over 3 2/3 innings in a no-decision. In Game 5, he entered on three days of rest and left trailing 1-0 after four innings in a 4-1 loss to the Milwaukee Brewers.

Rasmussen has a history of elbow injuries, including two Tommy John surgeries in 2016 and 2017 and an internal brace procedure in 2023. Over seven major league seasons with Milwaukee and Tampa Bay, he is 46-22 with a 2.83 ERA in 160 games. The Rays also declined mutual options on pitcher Nick Martinez and outfielder Cedric Mullins on Friday.