Drew Rasmussen and Rays agree to $8.5M, 2-year deal that could be worth $28M over 3 seasons

By: The Associated Press Posted: 3:07 PM CST Tuesday, Jan. 7, 2025 Last Modified: 9:01 PM CST Tuesday, Jan. 7, 2025

ST. PETERSBURG, Fla. (AP) — Right-hander Drew Rasmussen and the Tampa Bay Rays avoided salary arbitration, agreeing Tuesday to an $8.5 million, two-year contract that could be worth up to $28 million over three seasons.

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Hey there, time traveller!
This article was published 07/01/2025 (628 days ago), so information in it may no longer be current.

Rasmussen receives a $500,000 signing bonus and salaries of $2 million this year and $5.5 million in 2026.

Tampa Bay holds an $8 million option for 2027 with a $500,000 buyout, and the option includes $6 million in escalators based on health and $6 million based on starts.

FILE - Tampa Bay Rays pitcher Drew Rasmussen delivers against the New York Yankees in the first inning of a baseball game, May 11, 2023, in New York. (AP Photo/Mary Altaffer, File)

The option price would increase by $1.5 million if he has 45 or fewer injured-list days related to his arm in 2026 and 75 or fewer IL days and is deemed to be healthy for 2027.

Alternatively, he has up to $6 million in escalation available under a second provision as long as he is found healthy for 2027: $2.5 million for more than 75 arm-related IL days or more than 105 total IL days; $3.5 million for 75 or fewer arm-related IL days and 105 or fewer total days; $4.5 million for 45 or fewer arm-related IL days and 75 or fewer total IL days; and $6 million for 15 or fewer arm-related IL days and 45 or fewer total IL days.

He has up to $6 million in additional escalators for games started in 2026: $500,000 for eight, $750,000 for 12, $1 million each for 16 and 20, $1.25 million for 24 and $1.5 million for 28.

A 29-year-old right-hander, Rasmussen had been set to exchange proposed arbitration salaries with the Rays on Thursday.

He had elbow surgery for the third time on July 24, 2023, when Texas Rangers team physician Dr. Keith Meister performed an internal brace procedure. Rasmussen returned to the Rays on Aug. 7 and had a 2.82 ERA and 0-2 record in four starts and 12 relief appearances. He struck out 35 and walked six in 28 2/3 innings, averaging 97.4 mph with his four-seam fastball.

Rasmussen had Tommy John surgery in March 2016 and August 2017. He is 20-12 with a 2.95 ERA in 50 starts and 44 relief appearances over five big league seasons with Milwaukee (2020-21) and the Rays (2021-24).

If the option is not exercised, Rasmussen would be eligible for free agency after the 2026 season.

Five Rays remain eligible for arbitration: right-handers Shane Baz and Zack Littell, left-hander Garrett Cleavinger, catcher Ben Rortvedt and shortstop Taylor Walls.

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AP MLB: https://apnews.com/hub/MLB