There’s never an offseason where the Rays don’t have multiple players circulating the rumor mill, and this winter is no exception. Tampa Bay already flipped center fielder Jose Siri to the Mets last month, and there’s been plenty of speculation about the possibility of trades of some of their veteran players earning notable salaries. Yandy Diaz has often been the focus, but he’s one of several players who could draw interest. MLB Network’s Jon Morosi reports that closer Pete Fairbanks and left-hander Jeffrey Springs are among the Rays who’ve been popular in trade talks recently.
It’s not a huge surprise to see either player’s name pop up in trade rumblings. Fairbanks featured prominently on MLBTR’s list of top offseason trade candidates back in early November. Springs is the most expensive of at least six healthy rotation options for the Rays. Both players are signed for multiple seasons.
Springs, 32, has two years and $21MM remaining on a four-year, $31MM extension he signed prior to the 2023 season. The contract contains a $15MM club option for the 2027 season ($750K buyout). To this point, that contract hasn’t panned out as hoped, though not necessarily through any real fault of Springs. The journeyman southpaw broke out with the Rays in 2022, posting a sparkling 2.46 ERA with a strong 26.2% strikeout rate and terrific 5.6% walk rate in 135 2/3 innings. He looked like another late-blooming diamond in the rough unearthed by a Rays front office with a knack for just that type of discovery.
Unfortunately, Springs hasn’t been healthy since. He made three dominant starts to open the 2023 season (16 innings, one run allowed, 24-to-4 K/BB ratio) and then suffered a UCL tear that required Tommy John surgery. He missed the remainder of the ’23 campaign and made it back to the mound for seven big league starts and 33 innings late last year. The results were good in that limited sample. Springs posted a sharp 3.27 earned run average, fanned 26.1% of opponents and held his walks to a 7.7% rate. His average four-seamer was down from 91.4 mph in 2022 to 89.8 mph in 2024, however, and he saw similar velocity drops on his slider and changeup. Springs’ 12.9% swinging-strike rate was still strong, but it’s down from the 14.2% clip he displayed in 2021-23.
In addition to Springs, the Rays have Drew Rasmussen, Ryan Pepiot, Zack Littell, Taj Bradley, Shane Baz and a returning Shane McClanahan (2022 Tommy John surgery) all in the mix for starts next year. That’s in addition to yet-to-debut prospects like Joe Rock and Ian Seymour, who both excelled in the upper minors last year. Springs has looked the part of a high-end starter in the past but only for a fleeting span of about 150 innings across 2022-23. The Rays would be selling a bit low, but his $10.5MM salary is steep for them under normal circumstances — let alone at a time when the club is facing likely revenue losses following Hurricane Milton’s decimation of Tropicana Field’s roof and the club’s subsequent agreement to play at Tampa’s Steinbrenner Field — the spring training and Class-A home of the Yankees.
Fairbanks, 30, has been terrific when healthy in five seasons with the Rays. “When healthy” is an unfortunately crucial caveat, however, as the flamethrowing 6’6″ righty has never reached 50 appearances or topped 45 1/3 innings in a big league season. Dating back to 2020, Fairbanks touts a 2.89 ERA. He fanned nearly 35% of his opponents from 2020-23 but saw that number slip to a roughly average 23.7% this past season. Fairbanks didn’t have a huge loss of velocity on his heater, but it dipped from an average of 98 mph from ’20-’23 to 97.3 mph in 2024. His slider saw a larger drop, going from an average of 86.4 mph to 85 mph over those same periods.
The Rays signed Fairbanks to a three-year, $12MM contract that bought out all three arbitration years (2023-25) and guaranteed them control over his first free-agent season in the form of a 2026 club option. He’s owed $3.666MM this season with a $7MM option ($1MM buyout) on his ’26 campaign. Even for a partial season of a reliever with Fairbanks’ upside, it’s a pretty modest price to pay. As such, there’s no inherent urgency for the Rays to move him. They might feel a bit more motivated to move Springs and his weightier salary, but to this point it’s not clear the Rays are necessarily shopping either — just that they’ve drawn interest.
The Rays’ lot in life, of course, is to constantly listen on all of their players as they progress through their arbitration years or the latter stages of any contract extensions. This year’s stadium troubles and the uncertainty surrounding their home in 2026 and beyond only add to that.
At the same time, Tampa Bay already significantly culled payroll with their series of deadline trades and via the departures of some arb-eligible players (via trade and non-tender). RosterResource projects a bit less than $79MM in payroll for the Rays this coming season — already a drop of more than $10MM from their 2024 levels. Trading Springs, Fairbanks or other veterans like the aforementioned Diaz or Brandon Lowe could further reduce spending and free up the Rays to take on some money in other trades. With regard to free agency, they’re in a similar spot to the A’s in that they’ll have to persuade players to sign on for at least one year (and likely more) playing their home games in a minor league facility.
