The Rays have been here before: a big season, a division title, a pennant, and then the cold reality of falling short in October. Tampa Bay’s 2026 run ended in five games against the Milwaukee Brewers in the World Series, leaving the club with plenty to feel proud about - and one unmistakable emptiness, since the franchise still has never won it all.
Now the focus shifts to 2027, and three questions hang over the offseason. How the Rays spend, how they rebuild the rotation, and just how far Junior Caminero can still climb will go a long way toward shaping what comes next.
The first issue is ownership, because the Rays’ history of contending has never been matched by matching investment. Since their 90-win season in 2018, they have never been higher than 24th in Opening Day active roster payroll and never higher than 22nd in luxury tax payroll.
Twice in that stretch, they finished last in year-end 40-man payroll. The article frames that as a failure of former owner Stuart Sternberg, especially with a front office that has consistently gotten more out of less.
There’s at least a chance that changes now. The new ownership group led by Jacksonville real estate something or other Patrick Zalupski took over in September of 2025, and the team also seems to have a new ballpark - heavily funded by tax dollars - finally across the finish line. That would be a fitting moment for the Rays to loosen up financially, especially with the club clearly good enough to chase a title.
This winter brings immediate payroll pressure. Shane McClanahan, Jonathan Aranda, Griffin Jax, and Bryan Baker are all due arbitration raises.
Yandy Díaz triggered a $13 million vesting option for 2027 in August, and the piece notes that, based on prior organizational behavior, he might be a trade candidate. On top of that, the rotation needs investment.
There’s also uncertainty around the next collective bargaining agreement, with signs pointing to a setup that could help teams like Tampa Bay before the owner-implemented lockout likely begins on the night of Dec. 1.
The rotation may be the biggest puzzle of all. McClanahan’s new arbitration number could make him a trade candidate, while Freddy Peralta is headed for free agency after stabilizing things following his trade-deadline arrival.
Drew Rasmussen has an $8 million option with a $500,000 buyout for 2027, and the article says it should be an easy call to exercise it. Nick Martinez has a $20 million mutual option, which likely sends him to free agency, though the Rays should still pick up their side on principle.
That’s a lot of turnover for a group that did serious damage in 2026. Those four starters combined for a 3.03 ERA in the regular season, accounted for 42 of the team’s 54 quality starts, and posted 11.2 WAR despite Peralta making only 10 starts. If Tampa Bay wants to be the best team in the American League again next season, keeping that kind of production intact is going to be essential.
And then there’s Caminero, the 23-year-old third baseman who has become the lineup’s center of gravity. His growth has been steady and obvious: an OPS+ of 105 in his rookie 2024 season, then 130 in 2025, then 144 this past season. His WAR has jumped from 0.7 in 43 games as a rookie to 4.3 in 2025 and 5.7 in 2026.
He already crushes the ball and owns the fastest bat speed in the game, but 2026 also brought real gains in plate discipline. The article raises the possibility that he still has another level in him, which is a dangerous thought for everyone else. A 50-homer season and an MVP award are both described as possible, and with the Rays’ lineup still unbalanced, they could use every bit of that kind of production from their best player.
In Other News...
Rays' Remarkable Run Ended Where Their Biggest Flaw Finally Surfaced
For a club that spent the summer looking like the American Leagues most complete team, the final test exposed the one area that never quite caught up to the rest of the roster. The Rays ran through the regular season with 98 wins and carried the pennant into October, but the World Series turned into a grind they could not solve, even after pushing back from an early hole and making the Brewers work for every inch.
Milwaukee finished the job with its first championship, leaving Tampa Bay to stare at an offense that never found enough timely contact. The Rays were limited to 12 runs over five games and struggled badly with runners in scoring position, a sour ending for a season that had otherwise been defined by resilience, depth and control. [Read more 🡒]
Rays World Series Exit Leaves One Brutal Question About Their Big 3
The Rays run to the 2026 World Series ended with a familiar postseason frustration, as Milwaukee closed out Game 5 with a 4-1 win and left Tampa Bay staring at the same problem that had hovered over the matchup all week. The offense never found a lasting answer, and the pressure only grew once the Brewers leaned on Misiorowskis high-octane fastball approach to keep the Rays from settling in at the plate.
The biggest concern now centers on the middle of the lineup, where Yandy Diaz, Jonathan Aranda and Junior Caminero never provided the lift Tampa Bay needed. Their production was well below what the Rays count on in October, and the series defeat will inevitably send the conversation back to whether this group can carry the club through the biggest moments when the pitching matchup tilts the other way. [Read more 🡒]
Wander Franco's Latest Legal Blow Leaves Rays Facing A Bigger Question
Wander Francos legal troubles took another turn this week when a Dominican appeals court upheld his conviction in the sexual abuse case that has shadowed his baseball career. The ruling keeps the case in the public view for the Rays and for baseball at large, especially because it also left in place the 10-year prison sentence for the girls mother, who was convicted of extortion and blackmail.
For Tampa Bay, the bigger issue now is less about the original headline and more about what comes next. Francos status has already been tangled up in visa and disciplinary questions, and his path back to Major League Baseball remains uncertain as the legal process continues in the Dominican Republic. [Read more 🡒]