Fairbanks Seventh Rays Player Under Multi-Year Deal
Tampa, FL – The Tampa Bay Rays and Pete Fairbanks reached agreeement on a three year $12Mm contract through the 2025 season. The deal includes an option for the 2026 season. The deal is worth up to $24.6MM if the club option is exercised, performance escalators are reached, and award bonuses are triggered.
He was scheduled to have an arbitration hearing with Fairbanks camp entering a 2023 salary of $1.9MM and the Rays countering with $1.5MM.
He becomes the seventh Rays player that the front office has extended to multi-year deals joing Jeffrey Springs, Tyler Glasnow, Zach Eflin, Manuel Margot, Brandon Lowe, and Wander Franco.
Fairbanks, 29, was acquired from the Texas Rangers in exchange for infielder Nick Solak in July 2019. In parts of four seasons since being acquired Fairbanks has a 11-10 mark with a 2.98 ERA including 15 saves in 111 appearances. He shined brightly in 2022 after returning from injury (lat strain) making his season debut on July 17th. He appeared in 24 games pitching to a 1.13 ERA (3ER/24IP) ending the season with 22 straight scoreless appearances.
