Nick Martinez’s time on the Rays’ current deal is ending, but he’s not walking away empty-handed.
The Tampa Bay right-hander has turned down his $20 million mutual option for 2027, sending him into free agency and setting up another layer of uncertainty for a rotation already dealing with a busy offseason. Instead of returning under that option, Martinez will collect a $4 million buyout.
MLB insider Jon Heyman reported the move on X, and the setup itself is hardly a shock - mutual options rarely get accepted by both sides.
The money tells the story too. Martinez made $9 million in 2026, and the buyout pushes his total guaranteed earnings to $13 million.
Declining the option gives the veteran starter a chance to test the open market, though it doesn’t shut the door on a new deal with Tampa Bay down the line.
On the field, Martinez gave the Rays a strong year. He went 15-6 with a 3.10 ERA over 180 innings, helping Tampa Bay win the American League pennant.
He also played a meaningful role beyond the numbers. Manager Kevin Cash pointed to Martinez’s clubhouse presence during the season, and his teammates clearly valued that impact.
That value carried into October, where Martinez gave up five runs in 16 postseason innings. Cash then tapped him to start Game 1 of the World Series against Milwaukee.
Tampa Bay’s season ended there, with the Brewers winning the series in five games, and now the Rays are staring down more pitching questions.
Martinez’s contract decision adds to that picture. Freddy Peralta can also hit free agency, while Drew Rasmussen is facing a separate club option call.
For Martinez, though, the immediate result is simple: a guaranteed $4 million and the freedom to chase his next contract.
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