Rays Exercise Drew Rasmussen's $20 Million Option for 2027 Season

The Tampa Bay Rays have made one of their most important decisions of the offseason, securing the future of one of their best starting pitchers.

Tampa Bay has officially exercised Drew Rasmussen's $20 million club option for the 2027 season, keeping the veteran right-hander under contract following an impressive year.

And while the decision wasn't particularly surprising considering Rasmussen's performance, it represents a significant financial commitment for the organization.

Especially considering how much his contract changed throughout the season.

Rasmussen's original club option for 2027 was worth $8 million, but performance incentives increased that amount to $20 million after he reached the required number of starts.

The Rays could have declined the option and paid a $500,000 buyout.

However, Tampa Bay elected to retain Rasmussen despite the increased financial commitment.

His $20 million salary would also surpass Charlie Morton's $15 million salary in 2019 as the largest single-season salary in franchise history, and considering Rasmussen's performance throughout the 2026 season, it's difficult to argue against the decision.

The 31-year-old finished the regular season with a 16-5 record, 2.67 ERA, 0.91 WHIP, and 174 strikeouts across 172 innings.

Rasmussen also made 30 starts, earning his second All-Star selection while leading the American League in WHIP.

Those numbers were particularly impressive considering his injury history and the organization's efforts to manage his workload.

However, Rasmussen's contributions didn't stop when the postseason began. The veteran finished October with a 2-1 record and 2.20 ERA across five postseason starts, helping Tampa Bay reach its third World Series in franchise history.

Perhaps his most impressive performance came against the New York Yankees in Game 1 of the American League Division Series.

Rasmussen carried a no-hitter into the eighth inning while recording 10 strikeouts, helping Tampa Bay begin its postseason run with an important victory.

He also started Game 5 of the World Series against the Milwaukee Brewers on short rest, allowing just one run across four innings.

And while Tampa Bay ultimately fell short of winning its first championship, Rasmussen demonstrated why he remains one of the organization's most important pitchers.

Especially considering the uncertainty surrounding the rest of the starting rotation.

Nick Martinez recently entered free agency after Tampa Bay declined his $20 million mutual option for 2027.

Freddy Peralta is also entering free agency following an impressive postseason performance that included earning American League Championship Series MVP honors.

Meanwhile, Shane McClanahan has already been identified as a potential offseason trade candidate.

That makes keeping Rasmussen under contract particularly important for Rays president of baseball operations Erik Neander.

However, exercising the option doesn't necessarily guarantee Rasmussen will remain with Tampa Bay next season.

The organization could still consider trading the veteran if another team makes an offer that provides significant value in return, as the organization normally doesn't deal with large contracts. For this case alone, it's a good idea to remind ourselves this is always an option.

And while the Rays have consistently demonstrated their willingness to make difficult financial decisions, moving Rasmussen could create even more questions surrounding their pitching staff.

Especially if Martinez and Peralta end up signing elsewhere.

For now, Tampa Bay has secured one of its most important starting pitchers for another season.

And considering everything Rasmussen accomplished in 2026, keeping him could be one of the most important decisions the Rays make this offseason.