Rays' Drew Rasmussen: Agrees to contract extension

The Rays and Rasmussen avoided arbitration Tuesday by agreeing to a two-year, $8 million contract extension, Marc Topkin of the Tampa Bay Times reports.

The deal also includes an $8 million club option for 2027, which could escalate to as high as $20 million if Rasmussen reaches all of his health and innings pitched incentives. There's a $500,000 buyout attached to the option, so the right-hander is guaranteed a total of $8.5 million with the extension. Rasmussen looked sharp in 2024 in his return from an internal brace procedure, holding a 2.83 ERA, 1.08 WHIP and 35:6 K:BB over 28.2 innings. He is expected to return to the rotation full time in 2025, though he will have significant workload restrictions in place after totaling just 80.2 frames since the start of the 2023 season.