AL champion Rays pick up $20 million option on pitcher Drew Rasmussen for 2027

The Tampa Bay Rays, 2026 American League champions, have exercised their $20 million option on ace pitcher Drew Rasmussen for the 2027 season, according to WPLG Local 10.

The Rays chose to pick up Rasmussen's 2027 club option instead of paying a $500,000 buyout, as reported by Yahoo Sports and WKMG News 6 ClickOrlando. Rasmussen, a two-time All-Star, can become a free agent after the 2027 season.

Rasmussen earned $5.5 million in 2026 under an $8.5 million, two-year deal agreed upon in January 2025 to avoid arbitration. The option price for 2027 increased from $8 million to $20 million because Rasmussen remained healthy throughout the 2026 season and made at least 28 starts, making the contract worth $28 million over three seasons.

The 31-year-old pitcher went 16-5 with a 2.67 ERA in 30 regular season starts, helping the Rays secure the AL East title. In the postseason, he was 2-1 with a 2.20 ERA in five starts as Tampa Bay won its third pennant.

During the World Series against Milwaukee, Rasmussen started Game 5 on three days' rest but took the loss as the Brewers won 4-1 to clinch their first championship. He also threw 89 pitches over 3 2/3 innings in Game 2 and had a notable playoff start where he took a no-hitter into the eighth inning against the New York Yankees.

Rasmussen threw a career-high 172 innings in the 2026 season and 28 2/3 more in the postseason. Despite undergoing three major elbow surgeries, including two Tommy John surgeries and an internal brace procedure, he holds a 46-22 record with a 2.83 ERA over seven major league seasons with Milwaukee and Tampa Bay.

The Rays recently declined mutual options on other pitchers, focusing on retaining Rasmussen for the upcoming season.