The Miami Marlins are making a bullpen splash ahead of the 2026 season, agreeing to a one-year, $13 million deal with veteran reliever Pete Fairbanks. The deal, which includes a $1 million signing bonus and up to another $1 million in appearance-based incentives, also features a $500,000 bonus if Fairbanks is traded. It’s pending a physical, but once finalized, the Marlins will be locking in a proven late-inning arm who’s expected to take over as their closer.
Fairbanks, who just turned 32, is coming off a strong 2025 campaign with the Tampa Bay Rays, posting a 2.83 ERA over 60 1/3 innings. Despite holding an $11 million club option for 2026, the Rays opted for a $1 million buyout instead-opening the door for Miami to swoop in with a more lucrative offer.
This is a significant pickup for the Marlins, who not only add a battle-tested reliever, but one with a track record of closing out games in high-leverage situations. Fairbanks has been a mainstay in the Rays’ bullpen since debuting in 2019, logging 265 1/3 career innings with a 3.19 ERA over seven seasons.
His calling card? A high-octane fastball that still clocks in at over 97 mph and a wipeout mid-80s slider that he leans on heavily-using it more than 44% of the time.
When Fairbanks is healthy, he’s been one of the more dominant back-end relievers in the game. From 2023 to 2025, he served as Tampa Bay’s closer, compiling a 2.98 ERA over 151 innings, racking up 75 saves (12th-most in MLB during that span), and posting an impressive 18.9% strikeout-to-walk differential. That kind of consistency in the ninth inning is hard to find, and it’s what makes this move so intriguing for a Marlins team looking to solidify its bullpen.
Injuries, however, have been part of the story. Fairbanks made seven trips to the injured list between 2021 and 2024.
But in 2025, he finally stayed healthy, setting a new career high in innings pitched. That durability, combined with his past success, likely gave the Marlins confidence that he can anchor their bullpen in 2026.
That said, there are signs that Fairbanks may be evolving as a pitcher. His strikeout rate has dipped from a dominant 37.0% in 2023 to 24.2% this past season.
At the same time, he’s tightened up his command, dropping his walk rate from 10.9% to 7.4%. So while he’s not missing quite as many bats as he once did, he’s doing a better job of limiting free passes.
One area to watch: contact quality. Opponents averaged 90.2 mph in exit velocity against him in 2025, up from 85.7 mph just two years ago.
His fastball velocity has also ticked down slightly, from 98.9 mph in 2023 to 97.3 mph this season. Those are subtle shifts, but they’re worth monitoring as he transitions to a new team and a new role.
Still, even this version of Fairbanks-one with slightly diminished velocity and strikeouts-is plenty effective. His fastball still grades in the 90th percentile in velocity league-wide, and his strikeout and walk rates remain better than average. For a Marlins team that’s needed a reliable ninth-inning option, he checks a lot of boxes.
As for the Rays, the decision to decline Fairbanks’ option appears to be more about dollars than performance. Tampa Bay has consistently operated with one of the lowest payrolls in the league, and while Fairbanks’ previous $4 million salary fit comfortably within their budget, committing $11 million for one season likely pushed their financial threshold.
They initially signed him to a three-year, $12 million extension back in January 2023-a deal that gave them cost certainty during his peak years. But with arbitration no longer in play and his price tag rising, the Rays did what they often do: let go of a quality arm before the cost outweighed the value.
Now it’s Miami’s turn to benefit. If Fairbanks can stay healthy and maintain his effectiveness, the Marlins just landed a proven closer with swing-and-miss stuff, postseason experience, and the kind of demeanor you want on the mound in the biggest moments. It’s a high-upside move for a team looking to take the next step.