The Tampa Bay Rays secured ace right-hander Drew Rasmussen for the 2027 season by picking up his $20 million club option on Saturday.
Rasmussen, 31, produced a career year in helping the Rays win the American League pennant. Tampa Bay, which has never paid one player $20 million for a single season, per multiple reports, could have paid him a $500,000 buyout.
He had signed a two-year, $8.5 million deal in January 2025 to avoid arbitration. Rasmussen exceeded contract escalators for the option year, increasing the value from an $8 million starting point to $20 million.
The Ray already have seen fellow starters Nick Martinez and Freddy Peralta granted free agency. Rasmussen can become a free agent after the 2027 season.
Rasmussen went 16-5 with a 2.67 ERA in 30 regular-season starts to set his single-season bests for wins, strikeouts (174) and innings pitched (172). He led the American League with a 0.913 WHIP and 5.44 strikeouts-to-walks ratio while been selected to the All-Star Game for the second time and twice in two seasons.
He went 2-1 in the 2026 postseason with a 2.20 ERA in 28 2/3 innings over five starts. He struck out 31 and walked five batters.
Rasmussen took the loss on Wednesday in Game 5 of the World Series after allowing one run on two hits with four strikeouts and no walks in four innings — on three days’ rest. The Milwaukee Brewers secured their first championship with the 4-1 victory in St. Petersburg, Fla.
He also started Game 2 in Milwaukee, yielding three runs, six hits and two walks while striking out four in 3 2/3 innings but got a no-decision as the Brewers won 5-4.
A career highlight came earlier in the playoffs, in Game 1 of the American League Division Series against the New York Yankees. Rasmussen took a no-hitter through two outs in the eighth inning and finished with one hit allowed through eight in recording a 1-0 victory. He struck out 10 and walked two.
Rasmussen’s carer has taken many turns, including three major elbow operations: Tommy John surgeries in 2016 and 2017 and an internal brace procedure in 2023.
For his career, Rasmussen is 46-22 with two saves, a 2.83 ERA, 602 strikeouts and 151 walks in 632 2/3 innings over 160 regular-season games (111 starts) with the Brewers (2020-21) and Rays (2021-present).