Free-agent reliever Pete Fairbanks and the Marlins have reached agreement on a one-year, $13 million contract, a source told MLB.com’s Mark Feinsand on Wednesday. The team has not confirmed the deal.
Fairbanks became a free agent for the first time – heading into his age-32 season – when the Rays declined his $11 million option for 2026, instead paying him a $1 million buyout. That decision closed the book on a successful tenure with Tampa Bay. After three straight seasons with at least 23 saves, Fairbanks left the Rays with the third-most saves in franchise history (90), as well as the fourth-most games pitched (267).
A ninth-round pick by the Rangers in the 2015 Draft out of Missouri, Fairbanks pitched briefly for Texas in 2019 before being traded to Tampa Bay that July. By the next season, he established himself as a key member of the team’s bullpen as it made a run all the way to the World Series. From 2020-25, he appeared in 254 games, recorded 88 saves, posted a 2.87 ERA and struck out 11.2 batters per nine innings, while opponents managed a mere .584 OPS against him.
The biggest issue for Fairbanks during his Rays tenure was staying healthy. He spent time on the injured list in each season from 2021-24 before avoiding it in 2025, when he set career highs with 61 appearances and 60 1/3 innings.
Fairbanks remained effective in 2025, with a 2.83 ERA and 27 saves in 32 chances, but there were some concerning signs beneath the surface. From 2023 to ‘25, Fairbanks’ strikeout rate declined from 37.0% (one of the best marks in the Majors) to 24.2% (just 2 percentage points above league average).
On the other hand, even as Fairbanks posted middling chase, whiff and K rates this past season, he retained elite fastball velocity (97.3 mph) and excelled at limiting damaging contact (93rd-percentile barrel rate). In addition to his hard four-seamer, Fairbanks relies heavily on a slider that is his top strikeout pitch, also mixing in some changeups and cutters.
