The Rays have declined their $11MM option on reliever Pete Fairbanks, reports ESPN’s Jeff Passan. He’s now a free agent.
Fairbanks has spent almost all of his big league career in Tampa Bay. The Rays acquired him from the Rangers in a swap for outfield prospect Nick Solak. It worked out beautifully for the Rays, as Fairbanks has been one of the better late-game arms in the sport over the past six seasons. He carries a 2.87 earned run average in nearly 250 innings going back to the start of the 2020 season.
Earlier in his career, Fairbanks posted massive strikeout rates to match the excellent run prevention. He punched out nearly 35% of batters faced from 2020-23, fanning no fewer than 29% of opponents in each season. That has dropped significantly over the last two seasons. Fairbanks has posted a strikeout rate around 24% in consecutive years. He got swinging strikes on 12.6% of his offerings this past season. Both marks are still good but only a little higher than the league average 22.8% strikeout rate and 11.5% swinging strike percentage for relievers.
Fairbanks remains a very good late-game arm despite the drop in whiffs. He’s coming off a 2.83 ERA across 60 1/3 innings. He went 27-32 in save chances and has picked up at least 23 saves in each of the past three years. Fairbanks’ velocity has backed up slightly from his 2022-23 peak when he was averaging north of 99 MPH on his heater. Even with that “regression,” he throws harder than 97 on average with a plus mid-80s slider. Fairbanks has missed time in his career with lat and forearm issues but didn’t spend any time on the injured list this year.
More to come.