Pete Fairbanks is now a free agent after having his option declined by the Tampa Bay Rays.
After having his team option declined by the Tampa Bay Rays, closer Pete Fairbanks is now a free agent, free to sign with any team this offseason.
And according to Ken Rosenthal of The Athletic, Fairbanks is on the radar of the Toronto Blue Jays.
But even in a free-agent market that includes closers Edwin Díaz, Devin Williams and Robert Suárez, Fairbanks should attract considerable interest, with the Los Angeles Dodgers and Toronto Blue Jays among his expected suitors.
The Fairbanks file
Now 31, Fairbanks will turn 32 next month. A seven-year veteran of the Texas Rangers and Rays, he's gone 20-24 in his career with a 3.19 ERA. He helped the Rays advance to the World Series in the pandemic-shortened 2020 season and has amassed 23 saves or more in each of the last three seasons.
He had a 2.83 ERA in 2025 with 27 saves in 60.1 innings.
What about Jeff Hoffman?
Signed to a three-year, $33 million deal last offseason, Hoffman had a tumultuous regular season. He went 9-7, amassing 16 total decisions, and pitching to a 4.27 ERA. His strikeout numbers were excellent (84 in 68.0 innings) and he had 33 saves. However, he struggled with the home run ball, giving up 15 blasts in those 68.0 innings.
He was excellent in the playoffs, giving up just two earned runs in 12.1 innings. He struck out 18. However, his home run allowed in the top of the ninth inning of Game 7 of the World Series was part of the story of why the Blue Jays lost to the Dodgers.
How would the bullpen shake out?
To be determined. The Blue Jays left the door open for a high-leverage reliever to come in this offseason, though they'd almost certainly have to talk with Hoffman about how protective he is of the ninth-inning role.
How about the money?
Reliever markets can skyrocket, so it's unclear what the money would be, but ironically, Hoffman's a good comp for Fairbanks. There were some shoulder concerns with Hoffman that tamped down the overall value of a contract, but a three-year deal in the $35-50 million range seems fair, though some of that will depend on if a team sees him as a closer or not.
What's next
The general manager's meetings will wrap up Thursday in Las Vegas, and then the baseball world will reconvene in December (7-10) for the winter meetings.
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