The Rays exercised Rasmussen's $20 million club option for the 2027 season Saturday, Marc Topkin of the Tampa Bay Times reports.
Rasmussen made 30 starts in the regular season and spent fewer than 45 days on the injured list in 2026, triggering escalators that elevated the value of his option from $8 million to $20 million. The Rays' decision to bring the 31-year-old back for another season was likely easy despite the price increase, as he posted a 2.67 ERA and 0.91 WHIP across 172 regular-season innings. He also allowed just seven runs in 28.2 frames during the postseason while helping the Rays secure their second American League pennant in seven seasons.