The Rays have never been a team known for splashing big money in free agency, but they at least kicked the tires on one of the top names available this winter. According to reports, Tampa Bay showed interest in veteran catcher J.T. Realmuto before he ultimately re-upped with the Phillies on a three-year, $45 million deal.
Now, let’s be clear - Realmuto returning to Philadelphia always felt like the most likely outcome. But the Rays’ involvement, even at a surface level, speaks volumes about how they’re viewing their catching situation heading into 2026. The position has been a revolving door in Tampa Bay for years, and Realmuto, even at age 35, would’ve been a massive upgrade both offensively and defensively.
It’s not often the Rays even consider swimming in waters this deep. Their biggest free-agent deal to date is still the three-year, $40 million contract they gave to Zach Eflin two offseasons ago.
That’s not far off from the $15 million average annual value Realmuto got from the Phillies. If Philly had gone in a different direction - say, if they’d landed Bo Bichette and needed to reallocate funds - the door might’ve cracked open just enough for Tampa Bay to make a real push.
There’s no word that the Rays ever got to the point of making a formal offer, but the interest was real. And with Realmuto lingering on the market into mid-January, the timing certainly created at least a window of opportunity. Had the Phillies stepped aside, a two-year deal in the $30 million range - which some projections pegged as Realmuto’s market value - might’ve been within reach for Tampa Bay.
Outside of the Phillies, only the Red Sox were publicly linked to Realmuto this winter. The Rangers were floated as a possible fit, but budget constraints reportedly kept them out of the mix. Other clubs like the Giants, Reds, Pirates, and Marlins could’ve made sense on paper, but there was no indication any of them seriously pursued the All-Star catcher.
Back in Tampa, the offseason has followed a familiar script: reshuffle the roster, trim some salary, and find value in unexpected places. The Rays moved on from pricier players like Brandon Lowe and Pete Fairbanks, whose combined 2026 salaries would’ve totaled $22.5 million.
In their place, they brought in Steven Matz, Cedric Mullins, and Jake Fraley for a combined $25 million. That kind of maneuvering - three contributors for the price of two - is classic Rays.
The result? A projected payroll of around $80.1 million, nearly identical to last year’s $78.9 million.
If the Rays had landed Realmuto, they likely would’ve needed to move another significant salary to balance the books. Someone like Yandy Díaz, who’s entering the final guaranteed year of his contract, might’ve been a candidate. That would’ve been a tough pill to swallow - Díaz has been a key cog in the lineup - but it’s the kind of decision Tampa Bay’s front office has never shied away from when it comes to long-term roster building.
As of now, the Rays are moving forward with a catching tandem of Nick Fortes and Hunter Feduccia. President of baseball operations Erik Neander said back in November that the team was open to upgrading the position but also expressed confidence in the internal options.
“If we can find a way to be better at that position, we will,” Neander said. “But those are two guys we appreciate.”
Fortes and Feduccia are both relatively new to the Rays - each acquired in deadline deals last July from the Marlins and Dodgers, respectively. Fortes brings a solid glove but has struggled at the plate, posting a career slash line of .224/.280/.345 over nearly 1,200 MLB plate appearances.
Feduccia, meanwhile, has just 119 big-league plate appearances under his belt, most of them coming after the trade. He’s shown promise in Triple-A and was once a well-regarded prospect in the Dodgers’ system, but at 28 years old, he’s more of a “maybe” than a sure thing.
Beyond those two, the depth chart gets thin in a hurry. Logan Driscoll and non-roster invitee Blake Sabol are the only other catchers in the organization with any major league experience, and neither is expected to play a significant role out of the gate.
With Realmuto and Victor Caratini (now with the Twins) both off the board in a 24-hour span, the top-tier free-agent catching options have dried up fast. That leaves the trade market as Tampa Bay’s most likely path to reinforcement.
It’s not exactly overflowing with options, but teams like the Royals, Cardinals, and Pirates could have enough depth to make something work. Whether the Rays find a match remains to be seen, but if history tells us anything, they’ll keep working the phones.
In the meantime, the Rays are once again betting on internal development, upside plays, and the kind of under-the-radar moves that have become their trademark. But make no mistake - their interest in Realmuto signals that even in Tampa, there’s an understanding that catcher remains a position in need of a long-term answer. Whether that answer comes from within or via trade, the Rays know they can’t afford to keep rolling the dice behind the plate forever.