The Tampa Bay Rays are reportedly finalizing a multiyear contract extension with right-hander Drew Rasmussen, reports Marc Topkin of the Tampa Bay Times. Rasmussen’s agency, Beverly Hills Sports Council confirmed that it’s a two-year, $8.5 million contract with an option for a third year that can take the deal to $28 million. The deal includes a $500,000 signing bonus, a $2 million salary for 2025, $5.5 million in 2026 and an $8 million club option for 2027. That could escalate to as much as $20 million based on performance incentives. If the option is declined, Rasmussen will receive the $500,000 buyout.
The extension solidifies Rasmussen’s role in Tampa Bay’s starting rotation while offering financial security and potential upside for both parties.
Rays, Drew Rasmussen Agree to Two-Year Extension
Since joining the Rays in 2021, Rasmussen has been a key contributor to the pitching staff. Initially used as a reliever, he transitioned to a starting role in 2022, showcasing his ability to handle increased workloads. Over his time with the Rays, Rasmussen has posted a 2.98 ERA across 44 starts, establishing himself as one of the team’s most reliable arms.
Drew Rasmussen is an immensely talented pitcher who dominated last year after coming back from yet another elbow surgery.
Expect some decline in stuff as his stints stretch out, but this is absolutely an arm I’d want to bet on. Love this investment. https://t.co/fzHLA45tPc pic.twitter.com/XC7Q2QMrqw
— Rays Metrics (@RaysMetrics) January 7, 2025
Rasmussen missed the bulk of the 2023-24 seasons while recovering from elbow surgery. He did, however, look sharp in 2024 in his return, posting a 2.83 ERA, 1.08 WHIP and 35:6 K:BB over 28 2/3 innings. He is expected to return to the rotation full-time in 2025, although he will have significant workload restrictions in place of totalling 80 2/3 innings since the start of the 2023 season.
The Importance of This for the Rays
Rasmussen’s extension highlights the Rays’ continued commitment to developing and retaining key players with their cost-efficient model. Tampa Bay is securing a dependable arm for their rotation at a team-friendly price. Rasmussen’s ability to excel in both starting and relief roles provides flexibility, which is critical for a franchise that often relies on innovative pitching strategies.
By locking him in through the arbitration years with an affordable option or 2027, the Rays are ensuring stability in a rotation that has seen its fair share of injuries and turnover in recent seasons.
Main Photo: © Joe Nicholson-Imagn Images
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