2:25pm: Rasmussen’s agent at the Beverly Hills Sports Commission has now announced that the extension has been completed.
1:32 pm: Rays and righties Drew Rasmussen According to Mark Topkin of the Tampa Bay Times, Tampa Bay is close to reaching a multi-year deal that would give the club another year of control. Rasmussen will make a combined $8.5MM over the next two seasons (his final two arbitration years), while the Rays will receive a combined $8.5MM in his 2027 season (his first free-agent season). Club options. Payment includes a $500,000 signing bonus, $2MM in salary in 2025, $5.5MM in salary in 2026, and an $8MM club option for the 2027 season ($500,000 buyout). Topkin added that the escalator could push option prices to $20MM. Rasmussen is represented by the Beverly Hills Sports Commission.
Lamussen, 29, will miss most of the 2023-24 season as he undergoes medial brace surgery to repair the ulnar collateral ligament in his right elbow. That surgery reduced his workload for two seasons and his expected price in arbitration. MLBTR writer Matt Swartz projects the talented right-hander will make $2 million next season. With his salary and signing bonus, he will exceed that amount under this new multi-year arrangement while also sacrificing a year in free agency to lock in some immediate revenue.
It’s an understandable trade-off for Rasmussen, who didn’t fully break into the major league rotation until his age-26 season (2022) and has missed a lot of time with injuries since then. Rasmussen was a sixth-round pick of the Brewers in 2018. He signed with only a $135,000 bonus and did not make his major league debut until 2020.
Rasmussen traded from Milwaukee to Tampa Bay in 2021 trade Willie Adams To the Brewers. He struggled in a hybrid role in Tampa Bay but had a breakout year across the board in 2022. Below the average of 21.4%, the strikeout rate is as high as 5.3%, and the walk rate is as high as 5.3%. His ball-handling shooting percentage is as high as 46.6%. Rasmussen averaged 95.5 mph on his heater, deftly avoided hard contact and recorded a swinging strike rate of 12.1 percent, suggesting there may be more punches to come.
That certainly looks to be the case in early 2023. Rasmussen’s ERA was even higher at 2.62, but his strikeout rate soared to 26.6%. He maintained good command (6.2 percent), and his ground ball rate soared to 52.6 percent — a 6-point increase from last season. Rasmussen has looked like a true No. 1 or 2 starter in 36 starts starting in the 2022-23 season — a clear playoff team that could be at the front of any rotation. Pitch nearby.
Injuries, however, had different ideas for the talented right-hander. The Rays announced on July 8, 2023 that Rasmussen would require surgery. He ultimately missed 13 months and returned to the majors on August 7 of last season. The Rays use him primarily as a reliever. He “started” four games, but only pitched two innings each, as the opener. However, the results were very good. In 28 2/3 games, Rasmussen posted a 2.83 ERA, 30.2% strikeout rate, 5.2% walk rate, and 53.3% ground ball rate.
Topkin said the plan now is to return Rasmussen to the rotation. he will join Sean McClanahan (Coming back from Tommy John surgery), Ryan Pepiot, Taj Bradley, Sean Baz and Zach Little In a very talented weapons package. McClanahan, Rasmussen and Baz will all likely face some form of workload restrictions, as Baz has yet to pitch a full season since returning from ligament surgery in 2022, although he will be in Triple-A and the majors in 2024 .
For the Rays, this would have little impact on their 2025 budget. Due to the signing bonus, Rasmussen will earn just a nominal $500,000 more than the projected arbitration price. They’ll also lock in the right-hander’s salary through 2026, giving him some cost certainty. There’s a chance Rasmussen could earn more than $5.5MM in arbitration, but probably not by much considering the lower platform he’s starting from. The concession to locking in a 26-year salary is giving up a possible free-agent season — he’s 31 years old. As long as he’s healthy, this pick will net him at least $8MM, but it’s likely to be higher if healthy.
Although it’s not quite the same size as the Rays’ contract extension with their former ace. Tyler Glasnowthere are some similarities here. Tampa Bay is putting down some guaranteed money on a talented but oft-injured right-hander. Glasnow’s $25MM salary in the final season of his extension is guaranteed, and Rasmussen will have to stay healthy to get anywhere near that number. Still, it’s a potentially huge salary by Rays standards and could make Rasmussen a trade candidate down the road. This extension gives the Rays some additional control over a potential front line and is a viable trade candidate down the road. It might be cynical to point out the way an extension would increase a player’s trade value right after a deal is signed, but the Rays have a track record of operating this way.
For now, Rasmussen will enter the season as a fixture in a deep and talented rotation. The Rays haven’t done much to improve their secondary, though. Danny Jensen Behind the board offers potentially significant upgrades. Instead, they’re clearly hoping for major improvements from the much-hyped third baseman Junior Caminero and rebound Josh Lowe and Christopher Morelboth saw significant performance declines after productive 2023 campaigns.
