Offseason Outlook: Tampa Bay Rays

The Rays have a new owner and (hopefully) their old ballpark, as the plan is for a renovated and restored Tropicana Field to be ready for the start of the 2026 season.  Beyond those significant details, it may be an otherwise relatively normal Rays offseason, as the team looks to juggle payroll and churn the roster in the hopes of returning to contention.

Guaranteed Contracts

• Yandy Diaz, 1B: $12MM through 2026 (Rays hold $10MM club option for 2027; becomes guaranteed for $13MM if Diaz has 500 plate appearances in 2026)
• Drew Rasmussen, SP: $6MM through 2026 (includes $500K buyout of $8MM club option for 2027)

Option Decisions

• Pete Fairbanks, RP: $12.5MM club option ($1MM buyout)
• Brandon Lowe, 2B: $11.5MM club option ($500K buyout)
• Taylor Walls, SS: $2.45MM club option ($50K buyout; Rays have arbitration control over Walls through 2027 whether they exercise the option or not)

2026 financial commitments (if Fairbanks/Lowe options are exercised): $41.5MM
Total future commitments (if Fairbanks/Lowe options are exercised): $42MM

Other Financial Obligations

• Wander Franco, SS: Owed $164MM through 2032, but isn't being paid while on MLB's restricted list.

Arbitration-Eligible Players (service time in parentheses; projected salaries courtesy of MLBTR contributor Matt Swartz))

• Shane McClanahan (4.158): $3.6MM
• Cole Sulser (4.096): $1.2MM
• Taylor Walls (4.092): $2MM
• Griffin Jax (4.091): $3.6MM
• Garrett Cleavinger (4.060): $2.1MM
• Shane Baz (3.158): $3.1MM
• Nick Fortes (3.149): $2.4MM
• Christopher Morel (3.117): $2.6MM
• Stuart Fairchild (3.114): $900K
• Josh Lowe (3.093): $2.9MM
• Bryan Baker (3.049): $1.5MM
• Ryan Pepiot (3.005): $3.7MM
• Alex Faedo (2.169): $800K
• Richie Palacios (2.156): $1MM
• Kevin Kelly (2.156): $1MM
• Edwin Uceta (2.150): $1.4MM
• Non-tender candidates: Walls, Fortes, Morel, Fairchild, Faedo, Kelly

Free Agents

• Adrian Houser

Matt Silverman and Brian Auld have stepped down from their longtime roles as Rays co-presidents, and some other internal changes are inevitable now that Patrick Zalupski's ownership group has taken the reins.  However, the changes won't extend to president of baseball ops Erik Neander, with Zalupski making a point of stating during his introductory press conference that his group has a "self-imposed rule" that "none of us, and none of the partners, are allowed to talk to or have any influence on baseball operations."

The chief short-term goal for Zalupski's group is to finally secure a new ballpark in the Tampa/St. Petersburg area, with the lofty aim of having this new stadium in place for the start of the 2029 season.  It seems like a lot to achieve in less than three and a half years' time, but the bottom line is familiar for Rays fans --- the player payroll doesn't seem likely to change until that new stadium is in place, and new revenues start flowing.

Assuming that the Trop's renovations are completed on schedule, returning to their former ballpark at least represents some relief for the Rays after a season spent at Steinbrenner Field.  The adjustment to suddenly playing home games in a minor league park, and playing outdoors in the tough Florida weather, seemed to take its toll on the Rays as the 2025 campaign rolled along.  Tampa Bay was 47-36 on June 28 and in the thick of the AL East race, but stumbled to a 30-49 record the rest of the way.

Since the Rays were also 80-82 in 2024, this season's subpar record can't be entirely written off as a creation of Steinbrenner Field.  The magic formula hasn't entirely worked for Neander and company in the last two years, even if the Rays have remained quasi-competitive.  This could mean that Tampa Bay might not be far away from a full-fledged return to contention, since a lot still went right for the team in 2025.

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