Offseason Outlook: Tampa Bay Rays

The Rays have new owners and (hopefully) their old stadium as plans are underway to renovate and restore Tropicana Field in preparation for the start of the 2026 season. Aside from these important details, this could be a relatively normal offseason for the Rays as the team looks to make changes on the payroll and roster in hopes of getting back into contention.

guarantee contract

• Yandy Diaz1B: $12 through 2026 (Rays hold $10 club option in 2027; Diaz is guaranteed $13 if he plays 500 games in 2026)
• Drew RasmussenSP: 6MM before 2026 (including $500,000 buyout 8MM club option in 2027)

option decision

• Pete FairbanksRP: $12.5MM club option ($1MM buyout)
• Brandon Lowe2B: $11.5MM club option ($500K buyout)
• Tyler WallsSS: $2.45MM club option ($50K buyout; Rays have arbitration control of Walls until 2027, regardless of whether they exercise the option)

2026 financial commitment (if Fairbanks/Lowe options exercise): $41.5MM
Total future commitments (if Fairbanks/Lowe options are exercised): $42MM

Other financial obligations

• Strolling FrancoSS: $164MM owed through 2032, but not paid while on the MLB restricted list.

Arbitration-eligible players (service time in parentheses; projected salary provided by MLBTR writer Matt Swartz))

free agent

Matt Silverman and Brian Auld have resigned as longtime Rays co-presidents, and some other internal changes are inevitable now that Patrick Zalupski’s ownership group has taken the reins. However, the changes will not extend to president of baseball operations Erik Neander, with Zalupski noting during his introductory press conference that his team has a “self-imposed rules” That”Neither we nor any partners are allowed to speak to or have any influence over baseball operations“.

The main short-term goal for Zalupski’s team is to eventually build a new baseball stadium in Tampa/St. The St. Petersburg region’s ambitious goal is to build the new stadium for the start of the 2029 season. There appears to be a lot to accomplish in less than three and a half years, but the bottom line will be familiar to Rays fans — player salaries seem unlikely to change until a new stadium is built and new revenue starts flowing.

Assuming the renovations to Troop Field are completed as scheduled, returning to their former stadium would at least provide the Rays with some relief after spending one season at Steinbrenner Field. The sudden adjustment to playing home games at minor league parks and playing outdoor games in inclement Florida weather appears to be taking a toll on the Rays as the 2025 season progresses. On June 28, at the height of the AFC East race, Tampa Bay had a 47-36 record, but stumbled to a 30-49 record the rest of the way.

Since the Rays are also 80-82 in 2024, the creation of Steinbrenner Field cannot be entirely blamed for this season’s poor record. That magic formula hasn’t quite worked out for Neander and company over the past two years, even as the Rays have remained quasi-competitive. This could mean that Tampa Bay isn’t that far away from a full return to contention, as the team still has a lot to do in 2025.