Rays Exercise Drew Rasmussen’s $20 Million Club Option for 2027 After Breakout Season
Drew Rasmussen will remain with the Tampa Bay Rays in 2027 after the team picked up his club option, marking the highest single-season salary in franchise history.
On November 1, 2026, the Tampa Bay Rays officially exercised the $20 million club option for right-hander Drew Rasmussen’s 2027 season. This decision secures Rasmussen’s place in the Rays’ rotation after a career-best year highlighted by strong regular-season and postseason performances. The move also sets a new franchise record for the highest single-season salary, surpassing Charlie Morton’s $15 million in 2019.
Rasmussen’s option was part of a two-year extension signed in January 2025 that guaranteed $8.5 million for the first year and included a 2027 club option starting at $8 million with performance escalators. Thanks to his stellar 2026 campaign, he maximized those escalators to reach the $20 million figure. His 16-5 record, 2.67 ERA, and league-leading 0.91 WHIP over 172 innings reflect the ace-level quality he provided the Rays throughout the season.
Despite his breakthrough, Rasmussen expressed mixed emotions after the Rays’ World Series loss to the Brewers, acknowledging the uncertainty around his future amid the financial realities of a smaller-market team. While he hopes to remain with Tampa Bay, he understands the business considerations that come with being the highest-paid player in franchise history, especially after the departures of fellow starters Freddy Peralta and Nick Martinez.
Manager Kevin Cash praised Rasmussen’s postseason resilience, noting how he pitched effectively on short rest in Game 5 of the World Series. This trust and care from the organization, especially following Rasmussen’s prior surgeries and recovery periods, underscore the Rays’ commitment to protecting their ace. Rasmussen reciprocated that appreciation, crediting the organization’s support during his rehabilitation and return to form.
Rasmussen’s consistent performance since 2022 places him among the elite in the majors, with a 2.74 ERA ranking fourth among pitchers with at least 500 innings pitched. Rays pitching coach Kyle Snyder has called him the most underrated starter in baseball and the standard for right-handed pitching. The decision to pick up his option reflects Tampa Bay’s confidence in his continued value despite the unprecedented salary level for the franchise.
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