The Rays came within reach of a championship, only to be turned back in five games by the Brewers in the World Series. Now the hard part begins again. After another deep October run, Tampa has to figure out how to patch holes, keep the core intact where it can, and do it all on the kind of budget that always forces the front office to get creative.
The most urgent decisions sit on the pitching side, where the Rays could lose as many as three important arms from the rotation mix. Drew Rasmussen, Freddy Peralta and Nick Martinez all loom large in the offseason conversation, and each one brings a different kind of complication.
Rasmussen’s deal includes a $20 million club option, a steep number for a team that paid its entire roster a collective $95 million in ’26. Tampa could try to rework the contract and spread the money across multiple seasons rather than simply picking up the option as written.
That kind of restructuring would make sense if the Rays want to keep him without taking the full hit all at once. If not, Rasmussen also stands out as a trade piece; if the club balks at the price and can’t land on a new arrangement, he could become one of the offseason’s most attractive names.
A two-time All-Star with a strong season behind him, he would bring back a significant return and could help Tampa restock the farm system with MLB-ready help.
Martinez is in a similar contractual lane, though the numbers point toward a different outcome. He has a mutual option worth $20 million, and if he exercises his side, the Rays would either have to commit to that salary or pay a $4 million buyout.
That second route looks far more likely. Even after a strong 2026, Tampa is not built to carry two starters on $20 million deals, especially not one headed into his age-37 season.
Peralta, meanwhile, is almost certainly on his way out. He’ll hit unrestricted free agency after the season, and his late surge should be enough to land him a substantial contract on the open market - one the Rays are unlikely to match. Tampa brought him in as a rental at the trade deadline, and while he delivered some important October work, the odds of a return in 2027 are slim.
The Rays do have a couple of decisions on the position-player side, though neither carries the same weight as the rotation puzzle. Taylor Walls has a $3.1 million club option, and his glove makes a strong case for bringing him back.
He doesn’t offer much with the bat, but he led all shortstops with 21 defensive runs saved, according to The Fielding Bible’s metrics. Jorge Mateo, signed in August after being released by the Braves, appears far less likely to stick around.
Tampa already has a crowded middle infield picture, with young players like Carson Williams and Ben Williamson pushing for bigger roles next season.
If the Rays are going to replace lost innings and keep themselves in contention, they’ll have to find value somewhere. One path is the farm system, where Brody Hopkins and Ty Johnson both reached MLB in relief roles this season and could be asked to take on more. Another is the open market, where Tampa can look for arms that fit its style and its payroll.
Shane Bieber stands out as a clean fit. He made only 11 starts for the Blue Jays this season, but his track record gives him real appeal, and he may need a prove-it deal to restore his value.
That kind of contract lines up well with the Rays, who could offer him a rotation spot on a short-term arrangement with an option for a second season. He’d fit as a back-end starter behind Shane McClanahan and, potentially, Rasmussen, while still leaving room for a prospect or even another look at Griffin Jax as a starter.
Patrick Sandoval could also make sense as a bounce-back bet. He had a rough 2026 with the Red Sox, but the underlying numbers suggest better days may be ahead.
His 3.77 FIP sat well below his 5.12 ERA, he struck out 9.3 per nine, and he allowed only seven home runs. For a Rays club known for getting the most out of pitchers, that profile has obvious appeal, especially if Tampa wants a low-cost addition who can settle the back end of the rotation.
Ryne Stanek brings a different kind of option. At 35, he’s still bringing heat, and a return to Tampa would reconnect him with the organization where his career began.
He has a club option worth $6 million, which is probably above what he’d get on the market, making a reunion with the Cardinals less likely on that number. The Rays could step in and add a familiar middle reliever to the bullpen.
Then there’s Griffin Jax, who may be the kind of asset the Rays prefer to move rather than keep. He won’t reach free agency until after the 2027 season, which gives Tampa a reason to explore a deal now and get back young, controllable pieces.
Jax has been effective in relief and also showed he can handle starting work in 2026. At 31, he offers strikeout stuff that plenty of teams would want, whether they need bullpen punch or rotation insurance.
The Rays, after another October push, are once again staring at the same familiar challenge: keep the machine humming without spending like the teams they just battled. That means choices on contracts, tough calls on departures, and maybe one more trade that reshapes the roster before next season begins.
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