A tough finish in 2025 was compounded by a ridiculously complicated start, as the Rays were forced to move home games out of their hurricane-damaged Tropicana Field, and into a much more hitter-friendly Steinbrenner Field. Tampa Bay’s 77 wins was their lowest non-COVID total since the 2016 season.

A Bright Spot
3B Junior Caminero & 1B Jonathan Aranda had breakout seasons, and the bullpen was one of the most efficient in all of baseball. Any kind of improvement in health at the starting pitching group should automatically put this team back into contention.

A Big Concern
Wander Franco’s MLB career is likely over, and the Rays haven’t properly back-filled his SS position yet. There are notable prospects who might fill the role, but that remains to be shelled out this winter.

Related Links
2026 Rays Financials
MLB Offseason Guides

Pending Free Agents

The Rays acquired Houser from Chicago (AL) at the deadline when he was producing at an All-Star rate, but his efficiency fell way off down the stretch for Tampa Bay. With plenty of starter horsepower set to return from injury, a reunion here seems unlikely.

Option Decisions

Fairbanks saw his option escalate by $5.5M based on games finished & appearances. He’s been a solid backend of the bullpen option for Tampa Bay each of the last 3 seasons, but could be dangled on the trade market this winter. Walls would revert back to arbitration if his $2.5M club option is declined.

Arbitration-Eligibility

As usual, the Rays boast a heavy list of arbitration-eligible players, none of whom carry a necessarily daunting salary projection. If healthy, Pepiot, McCLanahan, and Baz could offer immense value in the rotation with a combined $10M of estimated salary.




PLAYER
PROJ. ARB SALARY




Garrett Cleavinger (RP, 32)
$4M


Ryan Pepiot (SP, 28)
$3.8M


Shane McClanahan (SP, 29)
$3.6M


Griffin Jax (RP, 31)
$3.5M


Christopher Morel (OF, 27)
$3M


Shane Baz (SP, 27)
$2.8M


Nick Fortes (C, 29)
$2.5M


Josh Lowe (OF, 28)
$2.1M


Taylor Walls (SS, 29)
$2M


Edwin Uceta (RP, 28)
$1.7M


Cole Sulser (RP, 36)
$1.5M


Manuel Rodriguez (RP, 29)
$1.25M


Bryan Baker (RP, 31)
$1.25M


Kevin Kelly (RP, 28)
$1M


Richard Palacios (OF, 29)
$1M


Stuart Fairchild (OF, 30)
$900k


Alex Faedo (RP, 30)
$850k

Guaranteed Salary

Diaz had his $12M salary guaranteed by the Rays before the start of the 2025 season, tossing in a conditional club option for 2027 in the process. Rasmussen posted a career best campaign last year across 31 outstanding starts. He’ll head into the offseason as the noted ace of the staff.

Team Tax Projections

Assuming Franco’s salary remains off of the books going forward, the Rays current 46-man roster projects toward an $80M CBT payroll, providing them around $163M of space to work with in the coming weeks.