The Tampa Bay Rays may have gotten one big offseason decision out of the way, but the rotation picture still has a major hole in it.
The club recently picked up the option on Drew Rasmussen, and the move came with a clear message: Tampa Bay wants him to be the anchor of the 2027 rotation. That’s a notable shift, especially since Rasmussen would have been viewed as a prime trade chip in the past. Even now, his future will be something people keep an eye on, but the early signs point to him being in place for Opening Day.
That matters because the Rays still have more work to do on the pitching side, and one of their biggest names is drawing a tough free-agent prediction. Tim Kelly of Bleacher Report recently projected that Freddy Peralta would leave Tampa Bay and sign a three-year, $73 million deal with the Chicago Cubs.
Peralta’s path to this point has been a strange one. He opened the season with the New York Mets and was not close to the pitcher they thought they were getting.
After being one of the best arms in the National League with the Milwaukee Brewers in 2025, he entered the year with the look of a potential ace for New York. That never really came together, and the Mets eventually dealt him to the Rays at the trade deadline.
For Tampa Bay, that trade paid off in a big way. Peralta turned his season around almost immediately after arriving, and the rebound should set him up for a strong payday.
He’s coming off a big second half with the Rays and, by some measures, an even better postseason. That kind of finish could make him the second-best pitcher on the market behind Tarik Skubal.
The catch for Tampa Bay is the price. Peralta is projected to land at more than $20 million per year, which makes a return feel unlikely. The Rays would love to keep him, but the numbers may not line up.
And if Peralta walks along with Nick Martinez, Tampa Bay would be staring at the loss of two important arms and a lot of production that has to be replaced.
In Other News...
Rays Now Face A Tough Reality With Nick Martinez
Nick Martinez has built a career around flexibility, and that history now matters again for Tampa Bay. He has already exercised opt-outs on prior contracts and moved through deals with the Padres, Reds and Rays, all while continuing to pitch well enough to stay in demand. In 2025, he delivered a 3.10 ERA across 31 games and made $13 million, production that only strengthens his standing as he moves deeper into his 30s.
The Rays now have to reckon with a familiar reality: a pitcher who has repeatedly kept his options open is likely to remain expensive if he reaches the market again. Martinez is expected to be a free agent in 2027 at age 36, and the industry view is that his next contract could still carry a meaningful annual price tag over a relatively short term. For Tampa Bay, the question is less about whether he can still help and more about whether they can keep pace with the market when the next decision arrives. [Read more 🡒]
Rays Face Several Roster Calls That Could Shape Their Contender Window
The Rays are heading into the offseason with a familiar kind of pressure, the sort that comes with trying to stay competitive while sorting through a roster full of moving parts. Free agency and trade talk are already circling around names like Nick Martinez, Freddy Peralta, Drew Rasmussen and Taylor Walls, and the front offices choices could say a lot about how it wants to build around its next contender window.
There is plenty of intrigue beyond the obvious pitching questions, too, because Tampa Bays decisions will not be made in a vacuum. Analysts are already weighing possible trade scenarios and the clubs broader roster priorities, while the conversation around the Rays future has even spilled into award speculation for Kevin Cash, Bryan Baker and Junior Caminero after the 2026 season. For a team that usually lives on the edge of every roster move, this winter could shape more than just the next opening day group. [Read more 🡒]
Rays Offense Just Earned The Respect Fans Waited All Year For
The Rays lineup is getting some overdue recognition after a season that had a little bit of everything, from power to speed to enough production to keep opposing pitchers busy all year. Junior Caminero and Chandler Simpson were both named finalists for the American League Silver Slugger Awards, and the club is also in the mix for American League Offensive Team of the Year, a nod that says plenty about how often Tampa Bay made life difficult for defenses.
Caminero put together a monster year at third base, finishing with 42 home runs and 101 RBIs while earning his second straight All-Star selection. Simpson brought a different kind of value from the outfield, hitting .306 and leading the league with 46 stolen bases, giving the Rays a balanced attack that stood out in more than one way. The winners will be announced on Nov. 17, and Tampa Bay has a real chance to turn a strong offensive season into hardware. [Read more 🡒]