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Pete Fairbanks

Rays Sign Pete Fairbanks To Extension

By Steve Adams | January 27, 2023 at 2:40pm CDT

The Rays announced Friday afternoon they’ve signed reliever Pete Fairbanks to a three-year extension with a 2026 club option. The deal buys out his three remaining seasons of arbitration eligibility, while the club option covers what would’ve been his first free-agent season.

Fairbanks, a client of Republik Sports, is reportedly guaranteed $12MM over the next three seasons (including a $1MM buyout on the 2026 option). Fairbanks will be paid $3.666MM annually between 2023-25, while the option comes with a $7MM base value. The deal also contains various incentives and escalators that could max it out at $24.6MM over four seasons.

Fairbanks and the Rays had yet to settle on a salary for the upcoming season, as he’d filed for a $1.9MM figure in his first time through the arbitration process, while the team countered at $1.5MM. Fairbanks would’ve been in line for another pair of raises in 2024 and 2025, but those salaries are now locked into place. In exchange for a guarantee that could err toward the high end of what he might’ve earned going year to year, Fairbanks will give the Rays control over his first free-agent campaign — his age-32  season.

The 29-year-old Fairbanks, acquired from the Rangers in a straight-up swap for infielder/outfielder Nick Solak back in 2019, has become one of the Rays’ top late-inning options. Tampa Bay doesn’t typically deploy one set closer, but Fairbanks is among the favorites to lead the club in saves during the upcoming season. Over the past three years, he’s pitched to a 2.70 ERA with a 33.8% strikeout rate and 9.7% walk rate in 93 1/3 innings.

Injuries have kept Fairbanks from working a full slate of innings over a 162-game season, however. In 2021, he twice landed on the injured list due to shoulder troubles — first a strained rotator cuff, then a bout of inflammation — missing roughly a month each time. He missed more than three months of the 2022 season due to a lat strain.

Though there are some durability concerns, Fairbanks’ 2022 campaign, in particular, illustrate the potentially dominant arm the Rays are locking up on this deal. Fairbanks averaged a blistering 99.2 mph on his heater while pitching to a 1.13 ERA with a comical 43.7% strikeout rate, a brilliant 3.4% walk rate and a well above-average 53.3% ground-ball rate. He also registered a 17% swinging-strike rate that ranked 16th out of the 546 pitchers who tossed at least 20 innings in 2022. Fairbanks didn’t allow a run over his final 22 innings of the season.

It’s the second multi-year extension this week for the Rays, who exchanged arbitration figures with a whopping seven players ago two weeks ago on exchange day. Southpaw Jeffrey Springs agreed to a four-year, $31MM contract that bought out two arbitration seasons and two free-agent years earlier in the week. The Rays, like many other clubs, have taken a file-and-trial approach to arbitration in recent years — effectively cutting off talks on one-year deals once figures are exchanged. Those clubs will typically remain open to working out multi-year arrangements if the player is amenable, and otherwise, an arbitration hearing is the typical outcome.

The Rays still have another five players with unresolved cases. Infielder Yandy Diaz (requested $6.3MM to the Rays’ $5.5MM), first baseman/outfielder Harold Ramirez ($2.2MM vs. $1.9MM), lefty Colin Poche ($1.3MM vs. $1.175MM), righty Ryan Thompson ($1.2MM vs. $1MM) and righty Jason Adam ($1.775MM vs. $1.55MM) all exchanged figures with the team on Jan. 13 after being unable to come to terms on a one-year salary figure.

With the recent rash of extensions over the past year-plus — Wander Franco, Tyler Glasnow, Manuel Margot and Springs also agreed to multi-year deals — and the Rays’ signing of Zach Eflin to a three-year contract, Tampa Bay is in the rare position of having a decent bit of cash already on the books two years down the road. The Rays already have $65.666MM guaranteed to seven players for the 2024 campaign, and that’s before factoring in what’s currently slated to be 13 arbitration-eligible players, league-minimum players to round out the group and, of course, any forthcoming additions via trade or free agency over the next 12 months or so.

The Rays have never opened a season with a payroll higher than last year’s $83.8MM total. That won’t change in 2023, barring an unexpected late addition to the roster, but barring a major trade or trades, they look like locks to set a new franchise record in player payroll in 2024. And with each of Diaz, Ramirez, Poche, Thompson and Adam all still unsettled, it’s possible Tampa Bay could yet add a few more guaranteed salaries to that ledger by hammering out additional multi-year pacts with the currently outstanding members of their arbitration class.

Jeff Passan of ESPN was first to report the Rays and Fairbanks had agreed to a three-year, $12MM guarantee with a fourth-year club option. Joel Sherman of the New York Post reported the option’s base value and buyout. Marc Topkin of the Tampa Bay Times reported the contract’s maximum value and specific salary breakdown.

Image courtesy of USA Today Sports.

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Newsstand Tampa Bay Rays Transactions Pete Fairbanks

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Requested Salary Figures For 33 Players Who Didn’t Reach Agreements By Arbitration-Filing Deadline

By Mark Polishuk | January 14, 2023 at 5:35pm CDT

January 13 was the deadline for teams and arbitration-eligible players to exchange salary figures in advance of possible hearings, and as usual, the large majority of players worked out one-year agreements (or extensions) for their 2023 salaries.  MLBTR’s Arbitration Tracker detailed these agreements, though there is still quite a bit of unfinished business, as 33 players still don’t have their deals settled, and thus their 2023 salaries could be determined by an arbiter.

Typically, arb hearings take place in February or March, yet there isn’t anything officially preventing a team from still reaching an agreement with a player up until the moment an arbiter makes their ruling.  However, most clubs employ the “file and trial” strategy as a way of putting more pressure on players to accept agreements prior to the figure-exchange deadline.  In short, once the deadline passes, teams head to hearings with no more negotiation about a one-year salary, though clubs are typically still willing to discuss multi-year extensions.

Here are the 33 players who have yet to reach an agreement on their 2023 salaries, as well as the players’ requested salary and the team’s counter-offer.  As always, clubs (and the league as a whole) pay very close attention to arbitration salaries, since any outlier of a number can serve as a precedent in the future, thus raising the bar for both one particular players and perhaps players as a whole.  This is why teams are generally adamant about the “file and trial” tactic and taking the risk of a sometimes-awkward arb hearing, even in cases where there is a relatively small gap between the club’s figure and the player’s figure.

[RELATED: Arbitration projections from MLBTR contributor Matt Swartz]

Nineteen of the 30 teams have at least one unsettled case remaining, with the Rays (by far) leading the way with seven players on pace to reach hearings.  Given that Tampa Bay entered the offseason with an enormous 19-player arbitration class, it perhaps isn’t surprising that the Rays still have a lot of work to do, even after trimming that initial class size with non-tenders and trades.  Teoscar Hernandez’s $16MM is the largest figure submitted by any of the 33 players, while Kyle Tucker and Bo Bichette have the largest gap between submitted figures, each with a $2.5MM difference between their hoped-for salaries and the numbers respectively submitted by the Astros and Blue Jays.

The total list (which will be updated as settlements are reached and hearing results become known)….

  • Hunter Renfroe: $11.9MM in desired salary….Angels offered $11.25MM
    • Won hearing against Angels
  • Gio Urshela: $10MM….Angels $8.4MM
    • Lost hearing against Angels
  • Luis Rengifo: $2.3MM….Angels $2MM
    • Won hearing against Angels
  • Kyle Tucker: $7.5MM….Astros $5MM
    • Lost hearing against Astros
  • Cristian Javier: $3.5MM….Astros $3MM
    • Signed five-year, $64MM extension
  • Bo Bichette: $7.5MM….Blue Jays $5MM
    • Agreed to three-year, $33.6MM deal
  • Max Fried: $15MM….Braves $13.5MM
    • Lost hearing against Braves
  • Corbin Burnes: $10.75MM….Brewers $10.01MM
    • Lost hearing against Brewers
  • Ryan Helsley: $3MM….Cardinals $2.15MM
    • Lost hearing against Cardinals
  • Genesis Cabrera: $1.15MM….Cardinals $950K
    • Lost hearing against Cardinals
  • Josh Rojas: $2.9MM….Diamondbacks $2.575MM
    • Lost hearing against D-backs
  • Tony Gonsolin: $3.4MM….Dodgers $3MM
    • Agreed to two-year, $6.65MM deal
  • Jon Berti: $2.3MM….Marlins $1.9MM
    • Agreed to one-year, $2.125MM deal with 2024 club option
  • Jesus Luzardo: $2.45MM….Marlins $2.1MM
    • Won hearing against Marlins
  • Teoscar Hernandez: $16MM….Mariners $14MM
    • Lost hearing against Mariners
  • Diego Castillo: $3.225MM….Mariners $2.95MM
    • Lost hearing against Mariners
  • Dylan Moore: $2.25MM….Mariners $1.9MM
    • Agreed to three-year, $8.875MM deal
  • Jeff McNeil: $7.75MM….Mets $6.25MM
    • Signed four-year, $50MM extension with 2027 club option
  • Victor Robles: $2.6MM….Nationals $2.3MM
    • Agreed to one-year, $2.325MM deal with 2024 club option
  • Austin Voth: $2MM….Orioles $1.7MM
    • Agreed to one-year, $1.85MM deal with 2024 club option
  • Jose Alvarado: $3.7MM….Phillies $3.2MM
    • Agreed to one-year, $3.45MM deal; later signed additional two-year, $18.55MM extension
  • Seranthony Dominguez: $2.9MM….Phillies $2.1MM
    • Signed two-year, $7.25MM extension
  • Ji-Man Choi: $5.4MM….Pirates $4.65MM
    • Lost hearing against Pirates
  • Yandy Diaz: $6.3MM….Rays $5.5MM
    • Signed three-year, $24MM extension with 2026 club option
  • Jeffrey Springs: $3.55MM….Rays $2.7MM
    • Signed four-year, $31MM contract extension
  • Harold Ramirez: $2.2MM….Rays $1.9MM
    • Won hearing against Rays
  • Colin Poche: $1.3MM….Rays $1.175MM
    • Lost hearing against Rays
  • Pete Fairbanks: $1.9MM….Rays $1.5MM
    • Signed three-year, $12MM extension with 2026 club option
  • Ryan Thompson: $1.2MM….Rays $1MM
    • Lost hearing against Rays
  • Jason Adam: $1.775MM….Rays $1.55MM
    • Won hearing against Rays
  • Brady Singer: $3.325MM….Royals $2.95MM
    • Lost hearing against Royals
  • Luis Arraez: $6.1MM….Twins $5MM
    • Won hearing against Marlins (who acquired him in trade after figures were exchanged)
  • Gleyber Torres: $10.2MM….Yankees $9.7MM
    • Agreed to one-year, $9.95MM deal
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Uncategorized Austin Voth Bo Bichette Brady Singer Colin Poche Corbin Burnes Cristian Javier Diego Castillo Dylan Moore Genesis Cabrera Gleyber Torres Harold Ramirez Hunter Renfroe Jason Adam Jeff McNeil Jeffrey Springs Jesus Luzardo Ji-Man Choi Jon Berti Jose Alvarado Josh Rojas Kyle Tucker Luis Arraez Luis Rengifo Max Fried Oscar Hernandez Pete Fairbanks Ryan Helsley Ryan Thompson Seranthony Dominguez Teoscar Hernandez Tony Gonsolin Victor Robles Yandy Diaz

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Rays End-Of-Season Notes: Fairbanks, Free Agents, 40-Man

By Maury Ahram | October 9, 2022 at 2:02pm CDT

With the Rays 15-inning marathon loss yesterday, their 2022 season has officially ended. Heavily impacted by the injury bug, including Wander Franco, Tyler Glasnow, Shane Baz, and Mike Zunino, the Rays managed to piece together their fifth consecutive winning season, leading to their fourth-straight playoff appearance. Beginning with a strong April and May going 38-21 (.571 win percentage), by the end of the season the Rays were fighting to hold onto a Wild Card berth, going 14-19 in September and October regular season games, finishing their last eight regular season games 1-7 before being swept by the Guardians in the Wild Card series.

Reliever Pete Fairbanks’s departure from yesterday’s game was likely due to a circulation issue, or possibly Raynaud’s syndrome, in his fingers per Marc Topkin of the Tampa Bay Times. It’s the latest injury for Fairbanks, who has dealt with a right rotator cuff issue, right shoulder inflammation, and a right lat strain since the 2021 season. Making his 2022 debut in mid-July, the righty pitched a 1.13 ERA in a limited 24 innings. On the heels of this strong regular season performance, he was selected to Rays postseason roster, but could not record an out due to the finger injury.

Transitioning to the 2023 season, the Rays have a few notable free agents including starter Corey Kluber, outfielder David Peralta, and catcher Mike Zunino. Kluber joined the Rays on a 1-year, $8MM contract and pitched to a respectable 4.34 ERA in 164 innings (31 starts). The 36-year-old pitched his first full season since 2018 with a below-average 20.2% strikeout rate, but an excellent 3.1% walk rate. Peralta began the season with the Diamondbacks, slashing .248/.316/.460 before being traded to the Rays where his numbers dropped to .255/.317/.335. The Rays picked up Zunino’s $7MM club option for the 2022 season after his strong 2021 season, but the catcher underwent thoracic outlet syndrome surgery in July, ending his 2022 season early. The power-hitting catcher was having a cold start to his season, posting a meager .148/.195/.304 line in 115 at-bats.

Center fielder Kevin Kiermaier is also likely to become a free agent, with the Rays holding a $13MM club option for his 2023 season that they will most likely decline. Kiermaier’s 2022 season ended in early July with a hip injury, with the righty posting a substandard .228/.281/.369 slash line in 206 at-bats.

In addition to these free agents, the Rays currently have 19 players who are arbitration-eligible entering the 2023 season, including bullpen forces Jason Adam, Nick Anderson, and Colin Poche. It is very likely that the team won’t retain all 19 players but will instead opt for non-tendering some of them.

As a whole, the 2022 Rays were marked by a surprisingly weak offense. Likely affected by injuries to key bats, Tampa slumped to a collective .239/.309/.377 batting line in 2022, a far cry from the .250/.327/.424 slash line the team put up during the 2018-2021 seasons. Interestingly, the Rays’ catching fell flat after a strong 2021, likely due to the absence of All-Star Zunino.

Tampa’s 2022 catching core, primarily composed of Francisco Mejia, Rene Pinto, and deadline addition Christian Bethancourt, posted a combined measly .224/.248/.373 line. Comparatively, Rays’ catchers slashed .234/.309/.494 in 2021. This team primarily relied on Zunino who broke out and batted a strong .216/.301/.559 in 2021. With Zunino becoming a free agent following the conclusion of the 2022 season, the Rays may opt to bring the veteran back or search for a new slugging backstop for the 2023 season.

Moving sixty feet, six inches from the Rays’ backstop to the mound, once again injuries severely impacted Tampa Bay’s performance. Starters Glasnow and Baz both dealt with elbow injuries that resulted in Tommy John surgery. At an individual level, only one pitcher made over 30 starts, Kluber, and only four pitchers made over 10 starts. Additionally, similar to Zunino, Kluber is a free agent at the conclusion of the season.

These injuries forced Tampa to continue to rely on their bullpen, with starters pitching the fewest innings in the league (753) to the third-lowest ERA (3.45) and the bullpen pitching the most innings in the league (682 2/3) with a low 3.36 ERA, stranding a hefty 74.3% of base runners. While this strategy worked for the majority of the season, by the end of the season Tampa’s bullpen was beginning to crack. Over their last 51 1/3 innings, the Rays’ bullpen ERA increased to 4.38 ERA, and they only stranded 67.6% of base runners.

Nevertheless, the Rays will look to retool this winter and update their roster in hopes of reaching the playoffs for the fifth-straight season.

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Notes Tampa Bay Rays Corey Kluber David Peralta Kevin Kiermaier Mike Zunino Pete Fairbanks

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