Tampa Bay Rays Sign Drew Rasmussen to Two-Year Extension Worth Up to $28 Million

The Tampa Bay Rays have agreed to a two-year contract extension with pitcher Drew Rasmussen worth up to $28 million, including a club option for 2027.

The Tampa Bay Rays have secured the services of right-handed pitcher Drew Rasmussen for an additional two years, agreeing to a contract extension worth up to $28 million. The deal, announced on Tuesday, includes a guaranteed $8.5 million, supplemented by a $500,000 signing bonus. Rasmussen, 29, will have the opportunity to earn the maximum value of $28 million as part of the agreement.

As per the terms of the extension, Rasmussen's salary for the upcoming season will be $2 million, followed by $5.5 million in 2026. This new deal provides Rasmussen with financial security while also giving the Rays stability in their rotation. The extension is a testament to Rasmussen's value to the team and demonstrates the Rays' commitment to retaining key players.

The contract extension for pitcher Drew Rasmussen includes a 2027 club option valued at $8 million, providing the team with flexibility and control over his future with the organization.

Notably, Rasmussen's deal also features performance-based incentives that could significantly impact his earnings for the 2027 season. If he meets specific targets related to innings pitched and maintains good health, Rasmussen's salary for 2027 could increase to $20 million, offering a substantial potential upside.

Drew Rasmussen's journey to becoming a key member of the Tampa Bay Rays' pitching staff began in 2021, when he was acquired from the Milwaukee Brewers as part of the Willy Adames trade. Over the past four seasons, Rasmussen has established himself as a reliable and effective pitcher, compiling a 2.72 ERA in 99 games, including 50 starts, for the Rays.

Rays, RHP Drew Rasmussen are reportedly in agreement on a two-year contract extension. pic.twitter.com/MxNCxhmlrl

— MLB Network (@MLBNetwork) January 7, 2025

Despite his impressive performance, Rasmussen's career has been marked by injuries, including two Tommy John surgeries. Most recently, he underwent a season-ending internal brace procedure on his right elbow in July 2023, which forced him to miss a significant portion of the season. However, in his limited appearances last season, Rasmussen demonstrated his resilience and dominance, posting a 2.83 ERA in 16 games. He struck out 35 batters while issuing just six walks and surrendering 25 hits in 28.2 innings, showcasing his ability to perform at a high level despite his injury history.